The procedure for preparing financial statements. Topic: Procedure for preparing financial statements

Are you here: Reporting

Plan

Introduction

1. Theoretical part

1.1 Regulatory documents

1.2 Concept, composition of financial statements and general requirements for them

1.3 Requirements for information generated in financial statements

1.4 Procedure for preparing financial statements

1.5Procedure and deadlines for drawing up and submitting financial statements

1.6 Publicity of financial statements

1.7 Concept of consolidated financial statements

2. Practical part

Conclusion

Literature

Application

Introduction

Subject accounting is the financial and economic activity of an enterprise or organization.

Financial and economic activity consists of: the formation of sources necessary for the activity.

Sources can be financial and material;

Placement of attracted and generated funds:

Creation of inventory, production costs, sales of products, relationships with the budget in terms of taxation and other business transactions.

Financial statements is a unified system of data on the property and financial position of an organization and the results of its business activities, compiled on the basis of accounting data in established forms for a certain reporting date. Financial reporting indicators are directly and indirectly formed from the General Ledger accounts of the most important register of the accounting system or are derived from accounting data obtained as a result of special calculations. This implies an organic connection between accounting and financial reporting, which consists in the fact that summary accounting data is transferred to the appropriate reporting forms in the form of synthesized totals.

In my work, I indicated the basics (the procedure for compiling and presenting) accounting (financial) statements and showed what analytical information about the business activities of an organization can be obtained from reporting data.

In the work, I examined the concept of accounting (financial) reporting, the basic techniques of its analysis, necessary for assessing the profitability, financial condition and inability of the analyzed organization.

The purpose of my work is to reveal the essence, purpose and role of accounting statements in a modern market economy.

Accounting and reporting method - financial accounting business transactions based on natural measurements in in monetary terms through continuous, continuous, documentary and interconnected expression.

The objectives of financial reporting are:

Generating reliable information about business processes and results of enterprise activities necessary for operational management and management, as well as its use by investors, buyers, tax, financial, banking authorities and other interested parties;

ensuring control over the movement of property and the use of material, labor and financial resources in accordance with approved norms, standards and estimates;

Warning negative phenomena in Financial economic activity, identification and mobilization of on-farm resources.

1. Theoretical part

1.1 Regulatory documents

1. Federal Law “On Accounting” dated November 21, 1996 No. 129-F:3.

2. Civil Code Russian Federation. Part 1 and P. - M.: Prospekt, 1998.

3. Regulations on accounting and financial reporting in Russian Federation. Approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n (as amended by order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).

4. Chart of accounts for the financial and economic activities of the organization and Instructions for its use. Approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n. Regulations on the composition of costs for the production and sale of products (works, services), included in the cost of products (works, services), and on the procedure for generating financial results taken into account when taxing profits

5. Approved by Decree of the Government of the Russian Federation dated 05.08.92 No. 552, with amendments and additions, approved by the Government Russian Federation dated 01.07.95 No. 661, dated 20.11.95 No. 1331 and dated 11.03.97 No. 273.

6. Accounting Regulations “Accounting Policy of the Organization”. PBU 1/98. Approved by order of the Ministry of Finance of the Russian Federation dated 09.12.981: No. 60n.

7. Accounting Regulations “Accounting statements of the organization.” PBU 4/99. Approved by order of the Ministry of Finance of the Russian Federation dated July 6, 1999 No. 243n.

8. “On the forms of financial statements of the organization.” Order of the Ministry of Finance of the Russian Federation dated January 13, 2000 No. 24n.

9. Guidelines for inventory of property and financial obligations. Approved by order of the Ministry of Finance of the Russian Federation dated June 13, 1995 No. 49.

10. The procedure for publishing annual financial statements by open joint-stock companies. Approved by order of the Ministry of Finance of the Russian Federation dated November 28, 1996. No. 101.

11. Instructions for filling out unified federal government forms statistical observation“Information on the production and shipment of goods and services”, No. P-2 “Information on investments”, N2L-3 “Information on the financial condition of the organization”, “Information on the number, wages and movement of employees.” Approved by the State Statistics Committee of Russia dated November 17, 1997 No. 76 (as amended on May 25, 1998, December 8, 1998).

13. The procedure for compiling and presenting the consolidated annual report. accounting statements. Order of the Ministry of Finance of the Russian Federation dated January 15, 1997 No. 3.

14. “On introducing changes and additions to guidelines on the preparation and presentation of consolidated financial statements, approved by order of the Ministry of Finance of the Russian Federation dated December 30, 1996 No. 112.” Order of the Ministry of Finance of the Russian Federation dated May 12, 1999 No. 236n.

15. “On approval of the reporting procedure for heads of federal state unitary enterprises and representatives of the Russian Federation in the management bodies of open joint-stock companies.” Decree of the Government of the Russian Federation dated 04.10.99 No. 211.

16. Accounting Regulations “Information by Segments”. PBU 12/2000. Approved by order of the Ministry of Finance of the Russian Federation dated January 27, 2000 N211n.

17. Accounting Regulations “Information on Affiliated Entities”. PBU 11/2000. Approved by order of the Ministry of Finance of the Russian Federation dated January 13, 2000 No. 25n.

1.2 Concept, composition of financial statements and general requirements for them

Reporting is a system of indicators reflecting the results of the organization’s economic activities for reporting period. Reporting includes tables compiled according to accounting, statistical and operational accounting. It is the final stage of accounting work.

Reporting data is used by external users to assess the effectiveness of the organization’s activities, as well as for economic analysis in the organization itself. At the same time, reporting is necessary for the operational management of economic activities and serves as the initial basis for subsequent planning. Reporting must be reliable and timely. It should ensure the comparability of reporting indicators with data from previous periods.

Organizations draw up reports according to forms and instructions approved by the Ministry of Finance and the State Statistics Committee of the Russian Federation. A unified system of organizational reporting indicators allows you to prepare reports. reports on individual industries, economic regions, republics and throughout national economy generally. Organizations' reporting is classified by type, frequency of preparation, and degree of generalization of reporting data.

By type, reporting is divided into accounting, statistical and operational.

Accounting statements represent unified system information about property and financial situation organization and the results of its economic activities. It is compiled according to accounting data.

Statistical reporting is compiled according to statistical, accounting and operational accounting data and reflects information on individual indicators of the organization’s economic activity, both in physical and monetary terms.

Operational reporting is compiled on the basis of operational accounting data and contains information on the main indicators for short periods of time - a day, a five-day period, a week, a decade, half a month. This data is used for operational control and management of supply processes, production and sales of products.

Based on the frequency of preparation, a distinction is made between intra-annual and annual reporting. Intra-annual reporting includes reports for the day, five days, ten days, half a month, month, quarter and half a year. Intra-annual statistical reporting is usually called current statistical reporting, and intra-annual accounting interim financial statements. Annual reports are reports for the year.

Based on the degree of generalization of reporting data, a distinction is made between primary reports, compiled by organizations, and consolidated reports, which are compiled by superior or parent organizations on the basis of primary reports.

Currently, organizations represent mandatory interim and annual financial statements.

Interim financial statements include: Form No. 1 “Balance Sheet”; Form No. 2 “Profit and Loss Statement”.

Except specified forms As part of the interim financial statements, organizations may submit other reporting forms (Cash Flow Statement, etc.), as well as an explanatory note included in annual reports.

In accordance with the Federal Law “On Accounting”

(01.21.11.96 No. 129-FZ) and the Accounting Regulations “Accounting statements of an organization” - (PBU 4/99) the annual accounting statements of organizations, with the exception of the statements of budgetary organizations, consist of:

A) balance sheet;

b) profit and loss statement;

c) attachments to them provided for regulations;

d) an audit report confirming the reliability of the organization’s financial statements, if they are subject to mandatory audit in accordance with federal laws;

The explanatory note may contain an assessment of the organization’s business activity, the criteria of which are the breadth of product markets, including the availability of export supplies, the organization’s reputation, expressed, in particular, in popularity among clients using the organization’s services, etc.; the degree of implementation of the plan, ensuring the specified growth rates; level of efficiency in the use of the organization’s resources, etc. It is advisable to include in the explanatory note data on the dynamics of the most important economic and financial indicators of the organization’s performance over a number of years, descriptions of future investments made economic events and other information of interest to possible users of the annual financial statements.

For 2000, the annual financial statements in accordance with the order of the Ministry of Finance of the Russian Federation dated January 13, 2000 No. 4n include:

Balance sheet - form No. 1;

· profit and loss statement - form No. 2;

·report on changes in capital - form No. 3;

· cash flow statement - form No. 4;

· Appendix to the balance sheet - form No. 5;

·report on the intended use of funds received - form No. 6;

· explanatory note;

Specialized forms established by ministries and departments of the Russian Federation for organizations of the system in agreement with the ministries of finance of the Russian Federation and republics, respectively;

The final part of the auditor's report.

Small businesses that do not apply a simplified system of taxation, accounting and reporting and are not required to conduct audit reliability of financial statements may not include reports on changes in capital and cash flows, an appendix to the balance sheet (forms No. 3, 4 and 5) and an explanatory note as part of the annual financial statements.

If these small businesses are required to conduct an audit of the accuracy of their financial statements, then they also may not submit Forms No. 3, 4 and 5 as part of the annual financial statements if the relevant data is missing.

Not commercial organizations have the right not to present the Cash Flow Statement (Form No. 4) as part of the annual financial statements, as well as in the absence of relevant data.

Statement of changes in capital (Form No. 3) and Appendix to the balance sheet (Form No. 5).

Public organizations (associations) that do not carry out entrepreneurial activity and having, in addition to disposed property, no turnover in the sale of goods (works, services), do not prepare interim accounting statements, specified organizations As part of the annual financial statements, they do not provide reports on changes in capital and cash flows (forms No. 3 and 4), Appendix to the balance sheet (form No. 5) and an explanatory note.

1.3 Requirements for information generated in financial statements

The requirements for information generated in financial statements are determined by the Federal Law “On Accounting”, the regulations on accounting and financial reporting and the Regulations “Accounting statements of an organization” (PBU 4/99).

These requirements are the following: reliability and completeness, neutrality, integrity, consistency, comparability, compliance with the reporting period, correctness of execution. They are additional to the assumptions and requirements disclosed in the Accounting Regulations “Accounting Policies of the Enterprise” (PBU 1/98).

Requirement reliability and completeness means that financial statements must give a reliable and complete picture of the property and financial position of the organization, as well as financial results her activities. In this case, financial statements generated and compiled on the basis of the rules are considered reliable and complete. established standards active acts of the system of regulatory regulation of accounting in the Russian Federation.

If, when preparing financial statements, it is revealed that there is insufficient data to form a complete picture of the financial position of the organization and its financial results, then relevant additional indicators and explanations are included in the financial statements.

To achieve a reliable and complete reflection of the financial results and financial position of the organization when preparing reports in exceptional cases(for example, when nationalizing property), deviations from the rules established by PBU/4 are allowed.

Neutrality requirement means that when preparing financial statements, neutrality of information must be ensured, i.e. unilateral satisfaction of the interests of some groups of users of financial statements over others is excluded.

Integrity requirement means the need to include in the financial statements data on all business transactions carried out both by the organization as a whole and its branches, representative offices and other divisions, including those allocated to separate balance sheets.

Consistency requirement means the need to maintain consistency in the content and forms of the balance sheet, profit and loss account and explanations thereof from one reporting year to another.

In accordance with comparability requirement The financial statements must contain data that allows them to be compared with similar data for the years preceding the reporting year. The Regulations stipulate that if they are not comparable for a number of reasons, then data from previous periods are subject to adjustment according to established rules.

Requirement to comply with the reporting period means that the reporting year in Russia is the period from January 1 to December 31 inclusive, i.e. reporting year coincides with the calendar.

For the preparation of financial statements, the reporting date is considered to be the last calendar day of the reporting period (December 31 for annual financial statements and other last days of months for periodic financial statements.

Requirement correct design is associated with compliance with the formal principles of reporting: its preparation in Russian, in the currency of the Russian Federation (rubles), signing by the head of the organization and the specialist in charge of accounting (chief accountant, etc.).

PBU 4 defines approaches to disclosure essential information, focused on its importance for interested users.

Indicators about individual assets, liabilities, income, expenses and business transactions in financial statements:

a) must be cited separately if they are significant and if without them it is impossible to assess the financial position of the organization or the financial results of its activities by interested users;

b) may be given as a total amount with disclosure in the notes on the balance sheet and profit and loss account, if each of these indicators individually is not significant for the assessment by interested users of the financial position of the organization or the financial results of its activities.

1.4 Procedure for preparing financial statements

In order for financial statements to meet the requirements for them, when preparing accounting reports compliance must be ensured following conditions: complete reflection for the reporting period of all business transactions and inventory results of all production resources, finished products and calculations; complete coincidence of synthetic and analytical accounting data, as well as reporting and balance sheet indicators with synthetic and analytical accounting; recording business transactions in accounting only on the basis of properly executed supporting documents or equivalent technical media; correct assessment of balance sheet items.

The preparation of reports must be preceded by preparatory work carried out according to a special schedule drawn up in advance. An important stage preparatory work reporting is the closure at the end of the reporting period of all operating accounts: calculation, collection and distribution, matching, financial performance. Before starting this work, all accounting entries must be made on synthetic and analytical accounts (including inventory results), and the correctness of these entries must be verified.

When starting to close accounts, you should keep in mind that modern organizations are complex objects accounting and calculation of product costs. Their products are used in various areas. Mutual services provide auxiliary production to each other and to the main production. When products and services are used mutually, it is impossible in all cases to attribute actual costs to all costing objects. Organizations are forced to reflect some part of the costs for some costing objects in the planned estimate. In these conditions important has a justification for the sequence of closing accounts.

Generalization of the accumulated experience in this matter made it possible to develop the following recommendations: closing accounts begins with the accounts of production facilities that have the maximum number of consumers and minimal counter costs, and ends with accounts with minimum quantity consumers and maximum number counter costs. In accordance with this approach, accounts are closed in the following sequence.

First of all, the cost of services of auxiliary productions is calculated and account 23 “Auxiliary productions” is closed. Secondly, deferred expenses, general production and general running costs and the following accounts are closed: 97 “Deferred expenses”,

25 “General production expenses”, 26 “General operating expenses”. Then they calculate the cost of production of the main branches of production and write off the costs from account 20 “Main production”. After this, costs are written off from account 29 “Servicing industries and farms”. In the following order of priority, entries are made in the accounts for accounting for capital investments, the financial result of the organization’s activities is determined, and accounts 90 “Sales” and 91 “Other income and expenses” are closed, profits are distributed and account 99 “Profits and losses” is closed.

The reporting year for all organizations is considered to be the period from January 1 to December 31 inclusive. The first reporting year for organizations being created the period is considered from the date of their state registration until December 31 inclusive. Newly created organizations after October 1 are allowed to consider the period from the date of their state registration to December 31 of the following year inclusive as the first reporting year. The data in the opening balance sheet must correspond to the data in the approved closing balance sheet for the period preceding the reporting period. If the opening balance changes as of January 1 of the reporting year, the reasons should be explained. Changes in the financial statements relating to both the current and last year (after their approval) are made in the statements prepared for the reporting period in which distortions in its data were discovered. Corrections of errors in the financial statements are confirmed by the signature of the persons who signed them, indicating the date of correction.

Accounting statements are signed by the director and the chief accountant (accountant) of the organization. In an organization where accounting is carried out on an agreed basis by a specialized organization or specialist, the financial statements are signed by the head of this organization and the specialist conducting accounting.

1.5 Procedure and deadlines for preparing financial statements

In accordance with the law on accounting, all organizations, with the exception of budgetary ones, submit annual financial statements in accordance with the constituent documents to the founders and participants. organizations or owners of property, as well as territorial bodies of State Statistics at the place of their registration. State and municipal unitary enterprises submit financial statements to bodies authorized to manage state property.

Other bodies executive power, banks and other users, financial statements are presented in accordance with the legislation of the Russian Federation.

Organizations are required to submit quarterly financial statements within 30 days after the end of the quarter, and annual financial statements within 90 days after the end of the year, unless otherwise provided by the legislation of the Russian Federation.

The submitted annual financial statements must be approved in the manner prescribed by the constituent documents of the organization.

Date of presentation of financial statements for the organization

the day of its actual transfer according to its ownership or the date of its departure indicated on the stamp of the postal organization is considered. If the reporting submission date falls on a non-working (weekend) day, then the reporting submission date is considered to be the first working day following it.

The organization's annual financial statements are open to interested users: banks, investors, creditors, buyers, suppliers, etc., who can familiarize themselves with the annual financial statements and receive copies of them with reimbursement for copying costs.

In accordance with the regulation, if an organization has subsidiaries and dependent companies, in addition to the accounting report itself, consolidated financial statements are compiled, including indicators of the reports of such companies located on the territory of the Russian Federation and abroad.

Ministries, departments and other federal executive authorities of the Russian Federation. Federations submit consolidated annual financial statements for unitary enterprises, as well as separately for joint-stock companies (partnerships), part of the shares (shares, contributions) of which is assigned to federal property· (regardless of size, share). The specified consolidated reporting is submitted to the Ministry of Finance of the Russian Federation, the Ministry of Economy of the Russian Federation and State Committee Russian Federation according to statistics in the following periods:

For joint-stock companies (partnerships), part of the shares (shares, deposits) of which are assigned to federal ownership, no later than August 1 of the following reporting year.

The consolidated annual financial statements of an association of legal entities created on a voluntary basis by organizations are presented in the manner and within the time limits provided for in the constituent documents of the association, unless otherwise established by the legislation of the Russian Federation.

1.6 Publicity of financial statements

In accordance with the accounting law, joint stock companies open type, banks and other credit organizations, insurance organizations, exchanges: investment and other funds created at the expense of private, public and government funds are required to publish annual financial statements no later than June 1 of the year following the reporting year.

The publicity of financial statements consists of their publication in newspapers and magazines accessible to users of financial statements, or the distribution among them of brochures, booklets and other publications containing financial statements, as well as in their transfer to authorities state statistics at the place of registration of the organization for provision to interested users.

The procedure for publishing financial statements is established by the Ministry of Finance of the Russian Federation and the bodies that are granted the right to regulate accounting by federal laws. General provisions for the publication of financial statements, established by law on accounting for joint-stock companies are specified by order of the Ministry of Finance of the Russian Federation dated November 28, 1996 No. 101.

In accordance with this order, publication of financial statements joint stock company made after verification and confirmation by the auditor (audit firm) and approval by the general meeting of shareholders.

The balance sheet and financial results report are required to be published. The balance sheet may be published in an abbreviated form developed on the basis of the Accounting Regulations (7). an abbreviated form of the balance sheet may include only total indicators for sections (non-current assets, current assets, losses, capital and reserves, long-term liabilities, short-term liabilities) if the following financial indicators of the company’s activities are simultaneously available:

a) balance sheet currency at the end of the reporting year, not exceeding 400,000 times the minimum wage as of the end of the year;

b) revenue (net) from the sale of goods, products, works, services for the reporting year, not exceeding 1,000,000 times the minimum wage.

If these indicators are exceeded, the balance sheet and income statement are published in full.

In the form of a balance sheet, which includes only the totals for sections, lines for which there are no numerical values of assets and liabilities are given but crossed out.

The form of the profit and loss statement submitted for publication must include all the “indicators provided for in clause 23 of the Reporting Regulations: revenue from the sale of goods, products, works, services; cost of sales of goods, products, works, services; gross profit, commercial expenses; administrative expenses, etc.

In addition, the income statement must include information about the decision general meeting shareholders on the distribution of profits or covering the company's losses for the reporting year, unless such information is published separately or as part of any document subject to publication in the media.

The company must apply the forms of financial statements accepted for publication from one reporting year to another; changes are allowed only in the event of changes in the conditions of presentation and in other cases, the validity of which is confirmed by an independent auditor.

The indicators of the published reporting forms are formed by directly transferring indicators from the annual financial statements or combining the corresponding indicators: Discrepancies between the indicators of the published forms and the indicators of the annual financial statements are not allowed.

Accounting statements are published in thousands of rubles. With significant turnover, reporting can be published in millions of rubles with one decimal.

If financial statements are published in abbreviated forms, then the publication must contain only the opinion of an independent auditor on the reliability of the financial statements (certainly positive, conditionally positive, negative, disclaimer of opinion).

If the financial statements are published in full, they include full text the final part of the auditor's report.

Standard forms of financial statements can be supplemented with articles and data necessary for interested users of consolidated financial statements:

Items of standard forms of financial statements for which the group does not have indicators may not be given, except in cases where relevant indicators took place in the period preceding the reporting period;

Numerical indicators about individual assets, liabilities and other facts of economic activity should be presented separately in the consolidated financial statements if, without knowledge of them, it is impossible for Users to assess the financial position of the group or the financial result of its activities.

In any case, reporting must include data on the full name audit firm, type and number of the license to carry out audit activities, date of the auditor's report.

Costs associated with the publication of financial statements are included in the cost of production as costs associated with production management (account 26).

Reimbursement amounts for the costs of copying and forwarding financial statements received from interested users are reflected in account 91 “Other income and expenses.”

1.7 Concept of consolidated financial statements

In accordance with Regulation (3), if an organization has subsidiaries and dependent companies, in addition to its own financial statements, consolidated financial statements are also prepared, including indicators of the reports of such companies located in Russia and abroad.

Consolidated financial statements are a system of indicators reflecting the financial position as of the reporting date and financial results for the reporting period of a group of related organizations.

The financial statements of a subsidiary are combined into consolidated financial statements in the following cases:

1) if the parent organization owns more than 50% of the voting shares of the JSC or more than 50% authorized capital limited liability companies (000);

2) if the parent organization has the opportunity to determine decisions made by the subsidiary in accordance with the agreement concluded between them;

3) if the parent organization has other ways of determining decisions made by the subsidiary.

Data on dependent companies are included in the consolidated financial statements if the parent organization has more than 20% of the voting shares of the joint-stock company or more than 20% of the authorized capital of the company.

The stated conditions for combining the reports of subsidiaries and affiliates into consolidated statements are specified in the Methodological Recommendations for Compiling consolidated reporting (12) .

Consolidated financial statements are prepared in the scope and manner established by PBU 4/99(7), according to forms developed by the parent organization based on standard forms of financial statements.

Before drawing up consolidated statements, all mutual settlements and other financial relationships of the parent organization with subsidiaries and dependent companies, as well as between subsidiaries and dependent companies, are verified and settled.

Accounting indicators subsidiary company are included in the consolidated financial statements from the 1st day of the month following the month of acquisition by the parent organization of the corresponding number of shares, shares in authorized capital subsidiary company or the emergence of the opportunity to determine decisions made by subsidiaries, and reporting indicators of dependent companies from the 1st day of the month following the month of acquisition by the parent organization of the corresponding number of shares or share in the authorized capital of the dependent company.

Consolidated financial statements are prepared and presented in Russian in thousands of rubles or in millions of rubles with one decimal place. It is signed by the head and chief accountant (accountant) of the parent organization (head of centralized accounting, specialized organization, specialist accountant in charge of accounting).

By decision of the Group members, consolidated financial statements may be published as part of the published financial statements of the parent organization.

When preparing consolidated financial statements, a unified accounting policy is used in relation to similar items of property and liabilities, income and expenses of the financial statements of the parent organization, subsidiaries and affiliates.

Consolidated financial statements combine the financial statements of the parent organization, subsidiaries and affiliates, compiled for the same reporting period and as of the same reporting date.

The Group may not prepare consolidated financial statements in accordance with the rules provided for by regulations and methodological guidelines for accounting of the Ministry of Finance of the Russian Federation if the following conditions are simultaneously met:

Consolidated financial statements are prepared on the basis of International Standards financial statements(IFRS) developed by the Committee on international standards financial statements;

The Group must ensure the reliability of the consolidated financial statements prepared on the basis of IFRS;

The explanatory note to the consolidated financial statements contains a list of applicable accounting requirements, discloses methods of accounting, including estimates that differ from the rules provided for by regulations and guidelines for accounting of the Ministry of Finance of the Russian Federation.

The consolidated financial statements combine all assets and liabilities, income and expenses of the parent organization and subsidiaries, with the exception of the cases discussed below.

The consolidated balance sheet does not include:

1) financial investments The parent organization in the authorized capitals of subsidiaries and, accordingly, the authorized capitals of subsidiaries in the part belonging to the parent organization;

2) indicators of accounts receivable and accounts payable between the parent organization and subsidiaries, as well as between subsidiaries;

3) profits and losses from transactions between the parent organization and

subsidiaries, as well as between subsidiaries;

4) dividends paid by subsidiaries of the parent organization or other subsidiaries, as well as by the parent organization to its subsidiaries;

5) parts of the assets and liabilities of subsidiaries not related to the activities of the Group, when the parent organization has 50% or less of the voting shares of the joint-stock company or the authorized capital of 000. The share of assets and liabilities of the subsidiary in this case for inclusion in the consolidated statements is determined based on the share voting shares of a subsidiary owned by the parent organization in their total number or the share of participation of the parent organization in the authorized capital of the subsidiary.

The consolidated income statement does not include:

1) revenue from the sale of products (goods, works, services) between the parent organization and subsidiaries, as well as between subsidiaries of the same organization and the costs attributable to this sale;

2) dividends paid by subsidiaries of the parent organization or other subsidiaries, as well as by the parent organization to subsidiaries;

3) any other income and expenses arising as a result of transactions between the parent organization and subsidiaries, as well as between subsidiaries;

4) the financial result of subsidiaries in terms of income and expenses not related to the activities of the Group, when the parent organization has 50% or less of voting shares in the joint-stock company or 50% or less of the authorized capital of 000. In this case, the financial result of the subsidiary company in terms of income and expenses for inclusion in the consolidated income statement are determined based on the share of voting shares of the subsidiary owned by the parent organization in their total number or the share of participation of the parent organization in the authorized capital of the subsidiary.

To be included in the consolidated financial statements, the reporting indicators of a subsidiary compiled in a foreign currency are recalculated into the currency of the Russian Federation - rubles.

The inclusion of data on dependent companies in the consolidated financial statements is carried out by reflecting two calculation indicators in it:

1) - indicator of the valuation of the parent organization in the dependent company. It is calculated as follows: the actual costs incurred by the organization when making investments, plus (minus) the share of the parent organization in the profits (losses) of the dependent company for the period from the moment the investment was made. This indicator is reflected in the consolidated balance sheet as a separate item in the group of items “Long-term financial investments”;

2) an indicator of the share of the parent organization in the profits or losses of the dependent company for the reporting period. It is calculated based on the value retained earnings or uncovered loss of a dependent company for the reporting period and the percentage of voting shares owned by the parent organization in their total number (the share of the authorized capital owned by the parent organization in its total value). This indicator is reflected in the consolidated income statement as a separate item “Capitalized income (loss) after the group of items for non-operating income and expenses and is included in the financial result of the group’s activities.

In the notes to the consolidated balance sheet and summary report The profit and loss statement provides the following data on subsidiaries:

Their list (full name);

Place of state registration and (or) place of business activity;

Share of the parent organization in the subsidiary;

The share of voting shares (authorized capital) owned by the parent organization, if it differs from the share of participation;

Valuation of the impact on the financial position of the Group caused by the acquisition or disposal of subsidiaries and affiliates at the reporting date, and at financial indicators its activities during the reporting period.

By dependent companies the explanations provide a list of them indicating:

Full name;

Places of state registration and (or) places of business activity;

The amount of authorized capital; - the share of participation of the parent organization in the dependent company.

Conclusion

By their purpose, financial statements are the main source of information about the financial position of an organization, the financial results of its activities and changes in its financial position.

The financial position of an organization is determined by the assets at its disposal, the structure of the organization's liabilities and capital, as well as its ability to adapt to changes in the operating environment. Information on financial results allows you to assess potential changes in resources. Data on changes in the financial position of the organization make it possible to assess its current (operating), investment and financial activities in the reporting period.

A thorough study of financial statements allows you to reveal the causes of shortcomings in work and outline ways to improve the organization's activities.

Let us recall that external users of accounting information have the opportunity, based on reporting data:

assess the feasibility of acquiring assets of one or another

organizations;

build relationships with customers correctly;

assess the financial situation of potential partners; take account possible risks when making investments, etc. Internal users use accounting data

reporting for adoption management decisions.

Accounting statements also serve as a planning tool for achieving the economic goals of entrepreneurship, making a profit, preserving and increasing capital. Based on these goals, modern management of an organization must earn money (profit) for the founders (owners), i.e., provide such a profit on invested capital that the founders could withdraw without damaging the current activities (financial investment) of the organization. At the same time, management is obliged to maintain at least the nominal capital of the organization, so that with its help it can be used to increase economic benefits(profit).

Therefore, at the legislative level in almost all countries of the world there is a requirement to prepare financial statements in order to provide numerous users with the information they need about a particular market entity.

In addition, regulatory accounting reporting also performs another important economic and legal function in the state - through it, the unity of interpretation of legal norms by various market entities is ensured and their compliance with generally accepted principles and rules for the preparation and presentation of financial statements deadlines and addresses.

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Non-state educational institution higher professional education

Institute of Communication Technologies

in Accounting

Executor:

Glotov Alexander Mikhailovich

2nd year student

Specialty 080801

Applied Informatics

Moscow 2012

accounting statements balance sheet

Introduction

1.2 Reporting classification

3. The procedure for preparing accounting (financial) statements

Conclusion

List of sources used

Introduction

Entrepreneurial activity on modern stage increasingly depends on economic information. The quality of such information determines the profitability of decisions made, including determining the circle of clients, suppliers and possible partners. Wherein great importance is given to the completeness and reliability of the information. The most common source of such information is financial statements.

The need to prepare financial statements arises from one of the fundamental principles accounting - the principle of continuity of activity of the organization. According to it, the organization will continue to function for the foreseeable future. Therefore, for the purposes of analysis, control, taxation, as well as for making management decisions, it is necessary to periodically have summary data on property status and financial results of its activities. In addition, such generalization of information is dictated by the interests of the owners. All this leads to the need to prepare financial statements.

IN modern conditions accounting (financial) reporting serves as one of the main sources of information not only for management various levels the organization itself, how much for external users.

External users of financial statements have business relationship not with one, but with several organizations. At the same time, they make decisions about interaction with them based on a comparison of data on such organizations. In order for reporting information to be comparable, it must be compiled according to uniform rules and standards. Only in this case can a potential investor evaluate the parameters that interest him (profitability, commercial risk, etc.) regardless of the specifics specific organization. It is this circumstance that dictates the need for its standardization. The basis of the concept of accounting standardization is the interests of external users. At the same time, such conceptual framework is typical not only for reporting in the Russian Federation, but also in international practice. This is explained by the fact that the main goals of commercial organizations in market conditions are the same.

Currently, a number of investors and organizations, depending on their importance, can request any information from the organization because it cannot but take into account their opinion. They have this opportunity either because they are large investors or because of their official functions ( tax authorities). Therefore, the procedure for preparing financial statements should ensure equal opportunities for the widest range of people. interested parties, including those who cannot request the necessary information from the organization.

It is this circumstance that creates the main goal pursued in reporting: ensuring necessary information all interested users, regardless of their capabilities. This goal is driven by the desire to maximally expand the circle of users of accounting information.

In accordance with this, accounting reporting must create the necessary conditions for users of information for them to make management decisions about interaction with the organization - this is achieved by adequately reflecting the state economic resources organizations. Moreover, such adequacy implies the presentation in the financial statements of assets, liabilities to the organization, income, expenses, profits, losses, liabilities of the organization itself and its capital in in full. Data quality characteristics financial statements determine its content.

1. The essence and significance of accounting (financial) statements

1.1 Concept and regulatory documents of reporting

Reporting is a system of indicators reflecting the results of the organization’s economic activities for the reporting period. It is the final stage of the entire accounting process as a whole.

According to the Law on Accounting in the Russian Federation, all organizations are required to prepare financial statements based on synthetic and analytical accounting data.

Reporting data is used by external users to evaluate the performance of the organization, as well as for economic analysis within the organization itself. At the same time, reporting is necessary for the operational management of economic activities and serves as the initial basis for subsequent planning. Reporting must be reliable and timely. It should ensure the comparability of reporting indicators with data for previous periods.

Organizations prepare financial statements in the forms recommended by the Ministry of Finance of the Russian Federation. Statistical reporting forms are approved by the State Statistics Committee of the Russian Federation. A unified system of organizational reporting indicators allows for the preparation of reporting summaries for individual industries, economic regions, republics and the entire national economy as a whole.

The main documents defining the requirements for the format of financial statements, the scope of information disclosure, and the procedure for preparation are:

1) Federal Law of November 21, 1996 No. 129-FZ “On Accounting” (as amended on November 3, 2006);

2) “Regulations on accounting and financial reporting in the Russian Federation.” Approved by Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n (as amended on March 26, 2007);

3) Regulations on accounting “Accounting statements of an organization” PBU 4/99, approved by Order of the Ministry of Finance of the Russian Federation dated July 6, 1999 No. 43n (as amended on September 18, 2006);

4) Order of the Ministry of Finance of the Russian Federation dated July 22, 2003 No. 67n “On the forms of financial statements of organizations” (as amended on September 18, 2006).

It should be noted that the provisions of the listed documents must be considered as a whole, since norms on the same issue may differ in scope or contain different requirements, or even different requirements.

1.2 Reporting classification

Organizations' reporting is classified by type, frequency of preparation, and degree of generalization of reporting data.

By type, reporting is divided into: 1) accounting; 2) statistical; 3) operational; 4) tax.

Accounting statements represent a unified system of data on the property and financial position of an organization, and the results of its economic activities. It is compiled according to accounting data. With the help of financial statements, systematic monitoring and control over the implementation of specific indicators work and safety of the property of the business entity.

Statistical reporting is a system of quantitative and quality indicators, characterizing the work of the organization for certain period time. With its help, control is exercised over the volume and quality of manufactured products, over the movement of production, financial and labor indicators. When compiling statistical reporting, data from statistical accounting, current accounting and reporting are used.

The concept of development of accounting and reporting in the Russian Federation on medium term It has been established that financial statements are divided into individual financial statements, consolidated financial statements and management reporting.

Individual accounting statements perform two functions - informational (characterizes the financial position and financial results of the organization's activities) and control (provides systemic control of the reliability of accounting data for each cycle). Therefore, organizations must prepare individual financial statements for each reporting period. Individual accounting statements are used by owners to identify the final financial result of the organization's activities - net profit(loss) and its distribution between them; submissions to supervisory authorities; identifying signs of bankruptcy; formation of a single state base statistical observation and macroeconomic indicators; in organization management, legal proceedings, taxation and for other purposes. Since the main task of individual financial statements is to provide users with high-quality, reliable and comparable information about the organization, it must be compiled according to Russian standards developed by IFRS. In the future, it would be advisable to evaluate the possibility of its compilation by some authorities directly according to IFRS (instead of Russian standards). In a number of cases in Russian standards Several alternative approaches to the formation and presentation of information in financial statements may be provided. They can establish different amounts of information in individual financial statements separate categories organizations, in particular, it is possible to prepare simplified financial statements.

Consolidated financial statements are intended to characterize the financial position and financial performance of a group of business entities based on the control relationship. She performs exclusively information function and seems interested external users. The main objective of consolidated financial statements is to ensure guaranteed access for interested users to high-quality, reliable and comparable information about a group of business entities. To solve this problem, consolidated financial statements must be prepared in accordance with IFRS, subject to mandatory audit and publication.

Management reporting is intended for use in managing a business entity. In this regard, its content, terms, forms and procedure for drawing up are determined by the organization independently.

Tax reporting ( tax returns) is intended for fiscal purposes and is required for preparation by business entities established by law. Tax reporting must be prepared on the basis of information generated in accounting, by adjusting it according to the rules tax legislation. The main task tax reporting is to reduce the costs of its formation by significantly approximating the rules of tax and accounting.

Based on the frequency of preparation, a distinction is made between intra-annual and annual reporting. Intra-annual reporting includes reports for the day, decade, half month, month, quarter and half year. Intra-annual statistical reporting is usually called current statistical reporting, and intra-annual accounting reporting is usually called interim accounting reporting. Annual reports are reports for the year.

1.3 Requirements for information generated in financial statements

The requirements for information generated in financial statements are determined by the Federal Law “On Accounting”, the Regulations on Accounting and Financial Reporting and the Regulations “Accounting Reports of an Organization” (PBU 4/99). These requirements are the following: reliability and completeness, neutrality, integrity, consistency, comparability, compliance with the reporting period, correctness of execution. They are additional to the assumptions and requirements disclosed in the Accounting Regulations “Accounting Policies of the Enterprise” (PBU 1/98).

The requirement of reliability and completeness means that financial statements must provide a reliable and complete picture of the property and financial position of the organization, as well as the financial results of its activities. At the same time, financial statements generated and compiled on the basis of the rules established by the regulations of the system of regulatory regulation of accounting in the Russian Federation are considered reliable and complete. If, during the preparation of financial statements, it is revealed that there is insufficient data to form a complete picture of the financial position of the organization and its financial results, then the corresponding additional indicators and explanations are included in the financial statements. In order to achieve a reliable and complete reflection of the financial results and financial position of the organization, when preparing reports in exceptional cases (for example, when nationalizing property), deviations from the rules established by PBU 4/99 are allowed.

The requirement of neutrality means that when preparing financial statements, the neutrality of information must be ensured, i.e. unilateral satisfaction of the interests of some groups of users of financial statements over others is excluded.

The requirement of integrity means the need to include in the financial statements data on all business transactions carried out both by the organization as a whole and by its branches, representative offices and other divisions, including those allocated to separate balance sheets.

The requirement of consistency means the need to maintain consistency in the content and forms of the balance sheet, profit and loss account and explanations thereof from one reporting year to another.

In accordance with the requirement of comparability, the financial statements must contain data that allows them to be compared with similar data for the years preceding the reporting year. The Regulations stipulate that if they are not comparable for a number of reasons, then data from previous periods are subject to adjustment according to established rules.

The requirement to comply with the reporting period means that the reporting year in Russia is the period from January 1 to December 31 inclusive, i.e. the reporting year coincides with the calendar year. For the preparation of financial statements, the reporting date is considered to be the last calendar day of the reporting period (December 31 for the annual financial statements and other last days of months for periodic financial statements, for example for reporting for January - February in leap years- February 29).

The requirement for correct registration is related to compliance formal principles reporting: its preparation in Russian, in the currency of the Russian Federation (in rubles), signing by the head of the organization and the specialist in charge of accounting (chief accountant, etc.). PBU 4/99 defines approaches to the disclosure of material information, focused on its importance for interested users. Indicators about their assets, liabilities, income, expenses and business transactions in the financial statements:

1) must be cited reasonably if they are significant and if without them it is impossible to assess the financial position of the organization or the financial results of its activities by interested users;

2) may be given as a total amount with disclosure in the notes to the balance sheet and profit and loss account, if each of these indicators individually is not significant for the assessment by interested users of the financial position of the organization or the financial results of its activities.

2.1 Composition of financial statements

Preparation of financial statements is possible only on the basis of synthetic and analytical accounting data, summarized and grouped in accordance with current regulatory documents. Thus, accounting reporting is the final stage of the entire accounting process as a whole.

Currently, an organization must prepare financial statements for a quarter, half a year, 9 months and a year on an accrual basis from the beginning of the reporting year. Submission of financial statements to control bodies is carried out at the same frequency. In accordance with this, reporting can be interim (quarterly) and annual.

Samples of standard forms of annual and interim financial statements are approved by the Ministry of Finance of the Russian Federation in accordance with the requirements of the Regulations on Accounting and Reporting in the Russian Federation and PBU 4/99.

Accounting statements of organizations (except for credit, insurance organizations and budgetary institutions) consists of: 1) balance sheet (form No. 1); 2) profit and loss statement (form No. 2); 3) appendices to them, provided for by regulations (explanations to the balance sheet and financial statements); 4) report on changes in capital (form No. 3); 5) cash flow statement (form No. 4); 6) appendices to the balance sheet (form No. 5), etc.; 7) an audit report confirming the reliability of the financial statements, if they are in accordance with federal law subject to mandatory audit; 8) explanatory note, in which the company announces changes in its accounting policies for the next reporting year.

It should be noted that the balance sheet (form No. 1) and profit and loss account (form No. 2) are mandatory elements accounting statements and are compiled both when preparing interim and annual reporting.

Starting with reporting for 2000, enterprises were given the right to independently formulate financial reporting indicators. This is a necessary condition to provide complete, reliable and real information about the property and financial condition of the enterprise in the reporting period.

Recommendations on the scope of financial reporting forms and the procedure for their preparation and presentation were approved by order of the Ministry of Finance of the Russian Federation dated July 22, 2003 No. 67n and serve, first of all, to develop common approaches to the preparation of financial statements, without limiting the independence of the enterprise when deciding on the composition and form of presentation of financial statements indicators, taking into account the specifics of their activities in the reporting period.

For example, large commercial organizations with several types of activities may include in their financial statements (in addition to the recommended sample forms) additional forms reporting. Small businesses have the right not to provide forms 3, 4, 5 as part of the financial statements and may not conduct an audit of the accuracy of the financial statements.

The balance sheet is the basis of financial statements. It reflects on the first day of each reporting period in monetary terms the composition and placement of the enterprise’s economic assets (balance sheet asset) and the sources of their formation (balance sheet liability). The balance sheet has the form of a two-sided table: one side is assets, that is, claims and investments; the second is liabilities, that is, liabilities and capital. The main property of the report is that total assets are always equal to total liabilities. This is due to the fact that when reflecting transactions on accounts in the balance sheet, the principle is observed double entry. The balance sheet is compiled according to the balance of debits and credits of synthetic accounts at the beginning and end of the period, taken from the book of business transactions or the General Ledger. Some balance sheet items fully reflect data from synthetic accounts (authorized capital, reserve capital, etc.). Other balance sheet items reflect grouped data from a number of synthetic accounts. For the balance sheet item “Cash”, for example, the sum of the balances of all cash accounts is written (50 “Cash”, 51 “Cash accounts”, 52 “Currency accounts”, 55 “Special bank accounts”, 57 “Transfers in transit”).

In Russia, the form of the balance sheet is developed by the Ministry of Finance of the Russian Federation and is advisory in nature. Organizations can supplement, reduce and modify the standard form of balance sheet.

IN standard form balance sheet assets balance sheet consists of two sections:

1) Fixed assets;

2) Current assets.

In the liabilities side of the balance sheet, the sources of property formation are grouped into three sections:

1) Capital and reserves;

2) Long-term liabilities;

3) Short-term liabilities.

The standard form of the balance sheet is built according to the increasing degree of liquidity of assets and the period of use. Moreover, it is the degree of liquidity that serves as the basis for dividing assets into current and non-current. Non-current assets are understood as assets of an organization, which, in accordance with accounting rules, relate to fixed assets, intangible assets, profitable investments in tangible assets and other assets, including expenses associated with their construction (construction in progress) and acquired. Distinctive feature and the criterion for classifying assets as non-current is their period beneficial use duration exceeding 12 months or the normal operating cycle if it exceeds 12 months. Current assets are a section of the balance sheet that reflects inventories, receivables, financial investments, cash and other assets whose circulation (maturity) period is less than 12 months or the normal operating cycle, if it exceeds 12 months.

Thus, non-current assets include low-liquid long-term assets, and current assets include more liquid short-term assets.

Balance reflects economic situation enterprises in monetary value - in rubles. When preparing a balance sheet, the correct assessment of balance sheet items is of great importance.

The enterprise's funds are reflected in the balance sheet at the following valuation:

1) fixed assets - according to residual value, i.e. as the difference between the original cost and the amount of accrued depreciation;

2) intangible assets - at residual value, i.e. as the difference between the cost of acquisition costs, including the costs of bringing them to a state in which they are suitable for use, and the amount of accrued depreciation;

3) capital investments - according to actual costs;

4) financial investments in securities, into the authorized capitals of other enterprises - at actual costs for the investor;

5) material assets - at actual cost;

6) work in progress - at actual production costs or direct costs;

7) finished products - at actual or standard cost;

8) balances on foreign currency accounts - in rubles by converting the currency at the exchange rate Central Bank RF.

The sources of the enterprise's funds are reflected in the balance sheet:

1) authorized capital - in the amount determined constituent documents;

2) reserve capital - in total unused funds this capital;

3) reserves - in the amount of unused reserves;

4) profit - in the amount of profit actually received in the reporting period.

In annual reporting, the balance sheet currency includes only uncovered loss or retained earnings of the reporting year.

The main purpose of the profit and loss statement is to characterize the financial results of the organization for the reporting period.

The income statement consists of two sections:

1) Income and expenses from ordinary activities.

2) Other income and expenses.

Each section provides information on indicators for the reporting period and for similar period previous year.

The report of Form No. 2 provides information on the following indicators by section.

I. Income and expenses from ordinary activities.

1) Revenue (net) from the sale of goods, products, works, services (less value added tax, excise taxes and similar mandatory payments); 2) Cost of goods, products, works, services sold; 3) Gross profit (1 - 2); 4) Business expenses; 5) Administrative expenses; 6) Profit (loss) from sales (3 - 4 - 5).

II. Other income and expenses

7) Interest receivable; 8) Interest payable; 9) Income from participation in other organizations; 10) Other operating income; 11) Other operating expenses; 12) Non-operating income; 13) Non-operating expenses; 14) Profit (loss) before tax (6 + 7 - 8 + 9 + 10 - 11 + 12 - 13); 15) Deferred tax assets; 16) Postponed tax obligations; 17) Current income tax (14 + 19 + 15 - 16) * 20%; 18) Net profit (loss) of the reporting period (14 + 15 - 16 -17);

For reference, the report provides data for the reporting and previous periods on dividends per preferred and ordinary share, and on expected next year income per preferred and ordinary share.

The breakdown of individual profits and losses provides data for the reporting and previous periods on certain types profits and losses (fines, penalties, penalties; profits (losses of previous years; exchange rate differences ah on transactions in foreign currency, etc.).

Based on the above, the report presents the composition of such indicators as:

1) gross profit; 2) profit (loss) from sales; 3) profit (loss) before tax; 4) net profit (loss) of the reporting period.

The indicator “Gross profit” reflects the difference between the proceeds from the sale of goods, products, works, services minus value added tax, excise taxes and similar mandatory payments and the cost of goods, products, works and services sold.

The indicator “Profit (loss) from sales” reflects the difference between the proceeds from the sale of goods, products, works and services and the sum of cost, commercial and administrative expenses.

The indicator “Profit (loss) before tax” characterizes profit (loss) from sales plus interest receivable, minus interest payable, plus income from participation in other organizations, plus and minus other operating income and expenses, plus and minus non-operating income and expenses .

In accordance with PBU 18/02 “Accounting for income tax calculations”, this indicator is determined according to accounting rules and is a conditional income tax expense (D-t. 99 K-t. 68).

The indicator “Net profit (loss) of the reporting period” is determined as follows: deferred tax liabilities and current income tax are added to profit (loss) before tax.

The current income tax rate is determined by multiplying adjusted income for tax purposes by the income tax rate (20%).

The write-off of the loss of the reporting year from the balance sheet is reflected at the expense of reserve capital (D-t account 82 K-t account 84), bringing the amount of the authorized capital to the value net assets(D-t. 80 K-t. 84), repayment of the loss of a simple partnership at the expense of targeted contributions of its participants (D-t. 75 K-t. 84).

The reporting form in question is a link between the past and current reporting periods and shows what caused changes in the balance sheet of the reporting period compared to the previous one. In other words, there is a close relationship between the balance sheet and the profit and loss account, which is expressed through the most important indicator of accounting statements - the financial result of the organization’s economic activities. The increase in balance sheet assets is formed due to the excess of income over expenses, the difference between which is qualified as profit. The profit received is reflected in the liability side of the balance sheet as an increase equity, and in the income statement - as the balance of the excess of expenses over income. Thus, the profit and loss statement shows how the organization's equity capital changes under the influence of income and expenses incurred in the current period.

The statement of changes in capital is a breakdown of changes in the amounts of indicators section III“Capital and reserves” of the balance sheet. This report consists of two sections: changes in capital and reserves. The first section of indicators characterizes the reasons that led to the increase in authorized, additional and reserve capital and retained earnings (uncovered loss), as well as its decrease.

The first section (on changes in capital) contains the following indicators for the reporting and previous year:

1. The amount of capital at the beginning of the period.

2. Increase in capital - in total, including through: additional issue of shares;

1) increase in the nominal value of shares: 2) reorganization of a legal entity (merger, accession); 3) revaluation of property; 4) recalculation of foreign currencies; 5) income that, in accordance with the rules of accounting and tax accounting and reporting relate directly to the increase in capital.

3. Reduction of capital - total, including due to:

1) reducing the par value of shares; 2) reducing the number of shares; 3) reorganization of a legal entity (division, separation); 4) revaluation of property; 5) recalculation of foreign currencies; 6) expenses that, in accordance with the rules of accounting and tax accounting and reporting, relate directly to the reduction of capital.

4. The amount of capital at the end of the reporting period.

Particular attention should be paid to the reflection in Form No. 3 of information about the reorganization. In accordance with Art. 15 of Law No. 208-FZ, the reorganization of a joint-stock company can be carried out in the form of merger, accession, division, spin-off and transformation. During reorganization in the form of merger and accession, there is an increase in the authorized capital and an increase or decrease in retained earnings (uncovered loss). During reorganization in the form of division and spin-off, the authorized capital and retained earnings (uncovered loss) are reduced. The procedure for preparing financial statements when reorganizing an organization is reflected in Guidelines on the preparation of financial statements when reorganizing an organization, approved by Order of the Ministry of Finance of the Russian Federation dated May 20, 2000 No. 44n. At correct filling Form No. 3, the total lines of the previous and reporting year must coincide with the indicators in Section III “Capital and Reserves” in the balance sheet for the previous and reporting year.

The second section (reserves) contains the following indicators for the reporting and previous year (balance at the beginning of the period, receipts, use and balance at the end of the period):

1) Reserves formed in accordance with legislation; 2) Reserves formed in accordance with the constituent documents; 3) Valuation reserves; 4) Reserves for upcoming expenses.

For reference, Form No. 3 reflects information on the value of net assets and on funds received from the budget and extra-budgetary funds for expenses for ordinary activities and for expenses for capital investments into non-current assets.

The main purpose of presenting the organization’s capital indicators in the financial statements is to provide all users with information about its composition and dynamics, which expresses the effectiveness of the organization’s management, as well as economic rights users of reporting related to the activities of this organization. At the same time, information about the organization’s capital is actively used when conducting economic analysis in order to determine its financial independence and other analytical indicators.

The cash flow statement is prepared in rubles. If the organization has funds in foreign currency, then first a calculation is made in foreign currency for each type of currency. After this, the data of each calculation drawn up in foreign currency is recalculated into rubles at the Bank of Russia exchange rate on the date of preparation of the financial statements. The obtained data for individual calculations are summarized when filling out the corresponding lines of the form. When compiling a cash flow statement, information about funds from accounts 50 “Cash”, 51 “Current account”, 52 “Currency accounts”, 55 “Special bank accounts” is used.

The cash flow statement contains the following indicators for the reporting and previous years:

1. Cash balance at the beginning of the reporting year.

2. Cash flow for current activities.

1) from buyers; 2) other income.

Funds sent - total including:

1) to pay for purchased goods, works, services, raw materials and other current assets; 2) wages; 3) payment of dividends, interest; 4) calculations for taxes and fees; 5) other expenses.

Net cash from current operations.

3. Cash flow for investment activities.

Total funds received, including:

1) from proceeds from the sale of fixed assets and other non-current assets; 2) proceeds from the sale of securities and other financial investments; 3) dividends received; 4) interest received; 5) proceeds from the repayment of loans provided by other organizations; 6) other income.

Total funds sent, including:

1) for the acquisition of subsidiaries; 2) acquisition of fixed assets, profitable investments in material assets and intangible assets; 3) acquisition of securities and other financial investments; 4) loans provided to other organizations; 5) other expenses.

Net cash from investing activities.

4. Cash flow financial activities.

Cash receipts - total, including:

1) from the issue of shares or other equity securities; 2) loans and credits provided by other organizations; 3) other income.

Cash used:

1) to repay loans and credits (without interest); 2) repayment of obligations under finance lease; 3) other purposes

Net cash from financing activities.

Net increase (decrease) in cash and cash equivalents.

5. Cash balance at the end of the reporting period.

The magnitude of the impact of exchange rate changes foreign currency against the ruble.

The report reflects the cash flow of the organization as a whole, as well as by types of its activities: current, investment and financial.

Current activities are understood as the activities of an organization aimed at making a profit as the main goal, or without making a profit as such a goal in accordance with the subject and goals of the activity, i.e. production of industrial and agricultural products, implementation construction work, sale of goods, provision of services Catering, procurement of agricultural products, rental of property, etc.

The organization's investment activities are related to the acquisition land plots, buildings and other real estate, equipment, intangible assets and other non-current assets, as well as their sale; with the implementation of its own construction, expenses for research, experimental and constructive and technological developments; with financial investments (purchase of securities of other organizations, including debt securities, contributions to the authorized (share) capital of other organizations, provision of loans to other organizations, etc.).

The financial activities of the organization are aimed at changing the size and composition of the organization's equity capital, borrowed funds (receipts from the issue of shares, bonds, loans to other organizations, repayment of borrowed funds, etc.).

The balance in all areas of activity must be positive.

The purpose of the cash flow statement is to provide users of financial statements with information about the receipt and payment of funds from the organization for a certain period. It will allow you to assess the solvency of the organization, its ability to pay loans, loans, dividends, wages and other payments, its need for additional financing, link the net profit indicator with cash receipts and payments and, finally, find out where the money comes from and where it is directed.

The balance sheet appendix deciphers the most important indicators of the Balance Sheet. Form No. 5 can be divided into ten sections.

The section “Intangible Assets” provides information on the initial cost of the main types of intangible assets at the beginning and end of the year, taking into account their receipt and disposal. The amount of accrued depreciation at the beginning and end of the period as a whole and by main types is given separately.

In the “Fixed Assets” section, first, data is shown at the beginning and end of the period on the initial cost of all fixed assets on the balance sheet, broken down by main groups. The movement of fixed assets is reflected. A separate table shows the amount of accrued depreciation for all fixed assets and by main types. If enterprises revalue their fixed assets, the results of the revaluation are reflected for reference. In this case, fixed assets are separately allocated the original (replacement) cost and the amount of accrued depreciation.

The section “Profitable Investments in Material Assets” examines property leased for temporary use to other companies or citizens to generate income. Information may be provided on fixed assets leased and valuables provided under a rental agreement. The amount of depreciation accrued on these material assets, is reflected in the last line of the section. Information is provided at the beginning and end of the period.

To fill out the section “Expenditures on research, development and technological work”, PBU 17/02 is used. To account for such expenses, account 08 “investments in non-current assets” is used, to which a special sub-account “R&D performance” is opened and for amounts that did not positive results for R&D included in non-operating expenses.

In the section “Development costs natural resources» provides data on the organization’s costs for exploration and evaluation of natural deposits, minerals, test drilling of a well, etc. This section is filled out similarly to the previous one.

The “Financial Investments” section reflects data on various types of long-term and short-term financial investments at the beginning of the reporting year and the end of the reporting period (contributions to the authorized capital of other organizations, securities, loans provided, deposits, other financial investments).

The section “Receivables and payables” contains information about the main types of short-term and long-term receivables and payables at the beginning of the reporting year and the end of the reporting period.

In the section “Expenses for ordinary activities (by cost elements)” - data on costs by element for the reporting and previous years.

The “Securities” section indicates received and issued security, data on property pledged and pledged at the beginning of the year and at the end of the reporting period.

In chapter " State aid» contains data for the reporting period and the same period last year on received budget funds And budget loans received and returned at the beginning of the reporting year and the end of the reporting period.

The appendix to the balance sheet is designed to provide users of financial statements with additional data that is inappropriate to include in the balance sheet: they represent a breakdown and breakdown of individual items of the balance sheet. Thus, the very name of this reporting form determines its strict relationship with the disclosed items of the balance sheet based on their comparability. The data obtained in this way is necessary for users to realistically assess the property and financial position of the organization.

The most important means of assessing the “quality” of an accounting report before presenting it to interested users is an audit.

According to paragraph 3 of Art. 1 Federal Law of August 7, 2001 No. 119-FZ “On Auditing Activities”, the purpose of the audit is to express an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation.

Audited persons may be legal entities And individual entrepreneurs. Reliability is understood as the degree of accuracy of financial (accounting) reporting data, which allows the user of these reporting, based on its data, to draw correct conclusions about the results of economic activity, the financial and property status of the audited entities and make decisions based on these conclusions. An audit of an organization's annual financial statements is carried out by independent individuals- auditors (citizen entrepreneur or employee audit organization), having the appropriate certificate. Independence means the complete independence of the auditor, the absence of his subordination or any other connection with the economic entity whose statements are being audited. This guarantees the auditor's freedom to express his opinion. This type audit is called external, in contrast to internal, organized directly by the head of the organization and included in the internal control system.

The audit report must be included in the annual financial statements only by those organizations that are subject to mandatory audit. Statutory audit is an annual mandatory audit of the accounting and financial (accounting) statements of an organization or individual entrepreneur.

Economic entities that fall within the scope of mandatory audit include:

1) organizations that have the organizational and legal form of an open joint-stock company;

2) credit, insurance organizations, commodity or stock exchanges, investment funds, government off-budget funds, the source of funds of which are provided for by law RF mandatory contributions made by individuals and legal entities, funds whose sources of funds are voluntary contributions from individuals and legal entities;

3) organizations whose revenue from sales of products (performance of work, provision of services) for one year is 500 thousand times higher than that established by the legislation of the Russian Federation minimum size wages or the amount of balance sheet assets at the end of the reporting year is 200 thousand times higher than the minimum wage established by the legislation of the Russian Federation.

4) organizations, if mandatory audit in relation to them is provided for by federal law.

Statutory audits are carried out only by audit organizations. However, any economic entity has the right to conduct an individual audit of financial (accounting) statements on a voluntary basis. The results of the audit are formalized in the form of an audit report on financial (accounting) statements. Audit report - official document, intended for users of the financial (accounting) statements of the audited entity, compiled in accordance with the federal rules (standards) of auditing activities and containing expressed in in the prescribed form the opinion of an audit organization or an individual auditor on the reliability of the financial (accounting) statements of the audited entity and the compliance of the procedure for maintaining its accounting records with the legislation of the Russian Federation. The conclusion is drawn up in compliance with uniform requirements to its form and content established Federal rule(standard) No. 6 “Audit’s report on financial (accounting) statements”, approved by resolution Government of the Russian Federation dated September 23, 2002 No. 696, and includes three main parts:

1) introductory - it contains data on the composition of the statements subjected to the audit, and an indication of the management body of the audited entity responsible for the preparation and presentation of the statements.

2) describing the scope of the audit - the scope of the audit is described, there is a list of regulations that guided the auditor during the audit, there is a description of the audit procedures used, as well as a statement from the auditor that the audit was carried out on a sample or continuous basis and gives sufficient grounds to express an opinion on the reliability of reporting.

This Standard provides that the auditor may issue:

1) or a conclusion containing an unconditionally positive opinion, when the auditor comes to the conclusion that the financial (accounting) statements give a reliable picture of the financial position and results of financial and economic activities of the audited entity in accordance with established principles and methods of accounting and preparation of financial (accounting) statements in the Russian Federation;

2) or a modified conclusion if:

Factors that do not influence the auditor's opinion, but are described in the auditor's report in order to attract the attention of users to any situation that has arisen in the audited entity and disclosed in the financial (accounting) statements;

Factors influencing the auditor's opinion that could lead to a qualified opinion, disclaimer of opinion, or an adverse opinion.

The auditor should date the report on the date on which the audit was completed (but not earlier than the date the accounts were signed by the management of the audited entity), as this provides a basis for users to believe that the audit has taken into account the impact of all events and transactions that occurred before that date.

The presence of an auditor's report in the financial statements undoubtedly influences the perception of the data contained therein, since it increases user confidence. However, the following must be taken into account. Firstly, audit report represents only the auditor’s opinion, which does not exclude other opinions on the reliability of the financial statements and does not guarantee complete absence there are errors in it. Secondly, the auditor bears financial and professional responsibility only for his opinion on the reliability of the reporting, but not for the reliability itself, the responsibility for ensuring which is assigned to the head of the organization.

The explanatory note contains a transcript individual indicators balance sheet and profit and loss account, as well as comments thereon. In addition, it provides additional information, necessary for users of financial statements for a real assessment of the financial condition of the organization. An explanatory note is one of the components of financial statements. This is indicated in paragraph 5 of PBU 4/99 and paragraph 2 of the Instructions on the scope of financial reporting forms, approved by Order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n. Along with individual reporting forms (cash flow statement, statement of changes in capital, etc.), it contains breakdowns of the balance sheet and profit and loss statements (clause 28 of PBU 4/99). As a rule, an explanatory note is presented as part of the financial statements for the year. But sometimes it may also be part of the interim financial statements. Small businesses that are not required to conduct an audit of the reliability of financial statements in accordance with the legislation of the Russian Federation have the right not to submit an explanatory note.

When considering standards various documents(Accounting Law; Instructions on the procedure for drawing up and presenting reports No. 67n; PBU 4/99; PBU 1/98), which reflect the requirements for the content of the Explanatory Note, the following picture is obtained.

Firstly, the Explanatory Note must provide information:

1) o in significant ways current accounting policy, including information about deviations in the system of assumptions adopted in the formation of accounting policies, as well as deviations from established norms and rules with appropriate explanations and justifications; 2) on changes in accounting policies for the year following the reporting year; 3) about changes in the reporting format; 4) on the comparability of reporting indicators across reporting periods; 5) about assessment methods and significant articles financial statements; 6) about information subject to disclosure in accordance with PBU.

Secondly, the Explanatory Note discloses the following information about the organization:

1) legal address organizations, main types of activities, average annual number of employees for the reporting period or number of employees as of the reporting date, composition (names and positions) of members of executive and control bodies organizations;

2) a brief description of activities of the organization ( common species activities; current, investment and financial activities);

3) main performance indicators (profitability, share of own working capital etc.) and their dynamics; factors that influenced the organization’s performance in the reporting year;

4) assessment of the results of the organization’s economic activities, including assessment of business activity, financial condition for the short and long term, assessment of the state of the securities market;

5) planned development of the organization; expected capital and long-term financial investments; policy regarding borrowings, risk management; activities of the organization in the field of research, development and technological work; environmental protection measures;

6) other useful information.

Please note that each organization may have its own explanatory information (its composition and completeness) and methods of presentation. What is common to all organizations is that the explanatory note must contain:

...

7.2. Contents and procedure for drawing up financial reporting forms

According to P (S) BU 1 " General requirements to financial statements" balance sheet is a report on the financial condition of an enterprise, reflecting specific date its assets, liabilities and equity.

Norms P (C) BU 2 "Balance" are applied to enterprises of all forms of ownership (except for banks and budgetary institutions).

The purpose of drawing up a balance sheet is to provide users with complete, truthful and impartial information about the financial condition of the enterprise at the reporting date. The balance sheet allows you to determine the composition and structure of the enterprise’s property, liquidity and turnover of working capital, the presence of own and borrowed capital, changes in accounts receivable and payable and other indicators. Obtaining such information is a necessary condition for making management decisions, as well as for assessing the effectiveness of future capital investments.

Elements of the balance sheet that are directly related to determining the financial condition of the enterprise and changes in it are: assets (A) equity capital (SC) liabilities (3).

Assets are resources controlled by the enterprise as a result of past events, the exploitation of which is expected to result in future economic benefits.

The total balance sheet assets are equal to the sum of equity and liabilities:

Equity is the portion of the assets of an enterprise remaining after deducting its liabilities:

A liability is an entity's debt that arises as a result of past events and the settlement of which is expected to reduce the entity's resources embodying economic benefits:

The balance sheet asset consists of three sections:

1) non-current assets;

2) current assets;

3) deferred expenses.

The balance sheet consists of five sections:

1) own capital;

2) provision for future expenses and payments;

3) long-term liabilities;

4) current liabilities;

5) income of future periods.

Non-current assets are assets that are held for the purpose of using them in the course of the enterprise's activities for more than 12 months, and are not subject to resale.

As part of non-current assets, the balance sheet reflects: intangible assets; fixed assets; Construction in progress; long-term financial investments; long-term accounts receivable deferred tax assets, other non-current assets.

Current assets are cash and cash equivalents that are not restricted in use, as well as other assets intended for sale or consumption during the operating cycle or within twelve months from the balance sheet date.

The following are reflected in the balance sheet as part of current assets: inventories; animals for growing and fattening; work in progress, finished products, goods; low-value and high-wear items; bills received; accounts receivable; current financial investments, cash and cash equivalents; Other current assets.

Deferred expenses reflect expenses that occurred during the current or previous reporting periods, but relate to future reporting periods.

As part of equity capital, the balance sheet reflects: authorized capital; share capital; additionally invested capital other additional capital; Reserve capital; retained earnings (uncovered loss) unpaid capital; withdrawn capital.

As part of the security for subsequent expenses and payments, the balance sheet reflects the following expenses and payments accrued in the reporting period, the amount of which as of the balance sheet date can be determined only by preliminary (forecast) estimates, as well as the balances of targeted financing and targeted revenues received from the budget and other sources.

Liabilities on the balance sheet are divided into long-term and current.

Long-term liabilities are liabilities that will not be settled during the operating cycle of the business or within twelve months from the balance sheet date.

Included long-term liabilities long-term bank loans are reflected in the balance sheet; received borrowed funds; debt on long-term bills and bonds issued; deferred tax liabilities; other long-term liabilities.

Current responsibility- These are liabilities that will be repaid during the operating cycle of the enterprise or must be repaid within twelve months from the balance sheet date.

Current liabilities include short-term bank loans on the balance sheet; current debt on long-term liabilities; bills issued; accounts payable for goods, works, services; current settlement obligations, other current obligations.

Deferred income includes income received during the current or previous reporting periods that relate to future reporting periods.

Recognition of balance sheet items in accordance with P (C) BU 2 “Balance” are presented in table. 7.3.

Table 7.3

Recognition of balance sheet items in accordance with P (C) BU 2 "Balance"

If expenses for the acquisition and creation of an asset meet certain criteria for their recognition, such expenses are not reflected in the balance sheet and are included in the expenses of the reporting period in the statement of financial results.

Balance sheet items are assessed in accordance with national regulations(Standards) of accounting (Table 7.4).

Table 7.4 Valuation of balance sheet items

Balance sheet items	Accounting Regulations (Standards)
Intangible assets	8
Fixed assets	7
Financial investments	12
Reserves	9
Accounts receivable	10
Cash and cash equivalents	4
Liabilities	11
Balance sheet items must be reflected in the balance sheet in monetary terms using a specified valuation basis.
Fixed assets	Included in the balance sheet at their residual value, which is defined as the difference between the original (revalued) value and the amount of accrued depreciation
Intangible assets	Included in the balance sheet at their residual value, which is defined as the difference between the original (revalued) cost and the amount of accumulated depreciation
Balance sheet items	Valuation as of the balance sheet date
Reserves	are reflected in the balance sheet at the lower of two estimates: historical cost net worth implementation. Inventories are recorded at net realizable value if at the balance sheet date their price has decreased or they have been damaged or otherwise lost their originally expected economic benefit.
Current accounts receivable	Included in the balance sheet at net realizable value, which is determined by subtracting from accounts receivable reserve doubtful debts
Financial investments (except for investments held by the enterprise until their maturity or accounted for using the equity method) Financial investments maintained by the enterprise; until their maturity	Included at balance sheet date at fair value Included at the balance sheet date at the amortized cost of financial investments
Financial investments, and are accounted for using the equity method	Displayed on the balance sheet date at cost, determined taking into account changes in the total amount of equity capital of the investee (except for those that are the result of transactions between the investor and the investee)
Current responsibility	Reflected in the balance sheet in the repayment amount
Providing for the following expenses and payments	Displayed as of the balance sheet date based on the accounting estimate of the resources (less the amount of expected reimbursement) required to settle the related liability.
Long-term liabilities that earn interest	are reflected in the balance sheet at their present value

The balance sheet is compiled as of the end last day reporting period as part of quarterly and annual reporting according to the General Ledger or the balance sheet.

For the purpose of comparison, the balance sheet of the enterprise provides the relevant information at the beginning of the reporting period.

The balance sheet reflects the balances of accounts of classes 1-6 of the Chart of Accounts. The reduction of items of assets and liabilities is unacceptable, except in cases provided for by the relevant Accounting Regulations (standards).

The following balance sheet of the enterprise identifies the sources of information used to compile the Report.

BALANCE

Form No. 1 Code according to the State Property Committee and 1801001 1

Assets	Line code	At the beginning At the end of the reporting reporting period of the period	A source of information
I. Non-current assets Intangible assets
- residual value	010		1,1	Calculation line line 011 - line 012
- initial cost	011	25,8	29,1	Balance at pax. 12
- accumulated depreciation	012	(25,8)	(28,0)	Subaccount balance 133
Construction in progress	020			Balance at pax. 15
Fixed assets
- residual value	030	20248,7	19603,5	Calculation line line 031 - line 032
- initial cost	031	26860,5	27845,6	Balance at pax. 10.11
- wear	032	(6611,8)	(8242,1)	Balance of subaccounts 131 and 132
Long-term financial investments
, - which are taken into account according to the method; participation in the capital of other enterprises	040			Subaccount balance 141
- other financial investments	045			Subaccount balance 143
Long-term accounts receivable	050			Balance at pax. January 16
Deferred tax assets	060			Balance at pax. 17 and
Other noncurrent assets	070			Balance at pax. 18!
Total for section 1	080	2048,7	1904,6	010 +020 +030 +040 +, 045 +050 +060 +070!
II. Current assets Reserves
- productive reserves	100	215,6	229,9	Sum of balances by pax. 20, 22, 25
- animals for growing and fattening	110			Balance at pax. 21
- unfinished production	120			Balance at pax. 23
- finished products	130			Balance at pax.
- goods	140	12978,6	11841,0	Balance at pax. 28 \|
Bills received	150			Remainder of pax34
Accounts receivable for goods, works, services
- net realizable value	160	48,9	45,2	Calculation line line 161-line 162
- initial cost	161	48,9	45,2	Balance at pax. 36
- reserve for doubtful debts 162		ABOUT	ABOUT	Balance at pax. 38
Accounts receivable according to calculations
- with a budget	70			Debit balance of subaccount 641
- on advances issued	180			Subaccount balance 371
- from accrued income	190			Subaccount balance 373
- from internal calculations	200			Analytical data for subaccount 377
Other current receivables and debt	210	125,9	624,7	Balance on subaccounts 372,374,375,376,377
Current financial investments	220			Subaccount balance 352
(Cash and cash equivalents:
- in national currency	230	3303,9	4337,4	Balance of subaccounts 301,311,333
- in foreign currency	240			Balance of subaccounts 302,312,334
Other current assets	250			Balance of subaccounts 331,332,643
Total for Section II	260	1606,7	1793,8	100 +110 +120 +130 +1 40 +150 + 160 +170 +180 +190 +2 00 +210 + 220 +230 +240 +250
III. Future expenses	270	62,4	2,5	Account balance 39
Balance	280	3717,8	3670,9	080 260 +270
Passive	Line code	At the beginning of the reporting period	At the end of the reporting period	A source of information
I. Own capital				1
Authorized capital	300		2707,3	Residue 3a pax. 40!
Share capital	310			Balance at pax. 41
Additional invested capital	320	1353,7		Balance of subaccounts 421,422
Other additional capital	330	8990,8	8990,8	Balance on subaccounts 423,424,425
Reserve capital	140	238,5	74,4	L Remaining pax. 43
Retained earnings (uncovered loss)		8471,0	10543,0	Balance at pax. 44
Unpaid capital	360		Balance at pax. 45
Withdrawn capital	370		(2578,4	Balance at pax. 46
Total for Title I	380	20407,7	22315,1	300 +310 +320 +330 +3 40 + (-) 350-360-370
II. Securing future expenses and payments
Ensuring payments to staff	400			Subaccount balance 471
Other collateral	410			Subaccount balance 473
Insurance reserves	415
Share of reinsurers in insurance reserves	416	()	()
Special-purpose financing	420			Balance at pax. 48
Total for Section II	430			400 +410 +415-416 +420
III. long term duties
Long-term bank loans	440			Balance at pax. 50^
Other long-term financial liabilities	450			Balance at pax.
Deferred tax liabilities	or			Balance at pax. 54
Other long-term liabilities	470			Balance at pax.
	480			440 +450 +460 +470
IV. Current responsibility
Short-term loans banks	500			Balance at pax. 60
Current debt for long-term obligations	510			Balance at pax. 61
Bills issued	520			Balance at pax. 62
Accounts payable for goods, works, services	530	15699,5	13283,0	Balance at pax. 63
Current settlement obligations: from advances received	540			Subaccount balance 681
- with a budget	550	678,3	769,0	Subaccount balance 641
- from off-budget payments	560		-	Subaccount balance 642
- on insurance	570	11.4	46,6	The remainder is 3arax. 65
- on wages	580	134,3	160,5	Balance at pax. 66
- with participants	590	14,0	14,4	Balance at pax. 671
- from internal calculations	600			Balance of subaccounts 682,683
Other current liabilities	610	72,6	112,3	Balance of subaccounts 644,684,685,372
Title IV total	620	16610,1	14385,9	Sum of lines 540-610
V. Deferred income	630			Balance at pax. 69
Balance	640	37017,8	36700,9	380 +430 +480 +620 +63 10

The methodology for preparing a balance sheet includes the following steps:

1) checking calculations;

2) determination of financial results;

3) closing accounting registers;

4) checking the identity of analytical accounting data with turnover and account balances synthetic accounting;

5) drawing up a balance sheet;

6) filling out the balance sheet form.

The numerical value of each balance sheet item is based on entries in synthetic accounts. For individual accounting accounts, the balance is reflected in the balance sheet in detail (36, 37, 63, 66 and others). Some balance sheet items reflect an amount that combines the balances of several accounts (for example, the balance sheet item “Inventories” and others).

All amounts reflected in the balance sheet must be confirmed by the amounts of account balances.

Small businesses draw up a balance sheet in an abbreviated form (According to P (C) BU 25 “Financial report of a small business entity.”

The purpose of drawing up the Financial Results Report is to provide users with complete, truthful and unbiased information about income, expenses, profits and losses from the activities of the enterprise for the reporting period.

Small businesses prepare a report on financial results in an abbreviated form (according to P (C) BU 25 “Financial report of a small business entity”).

The structure of the Financial Results Report is presented in Table. 7.5

Table 7.5

Game no.	Chapter	Business entities that provide information	Purpose
1	Financial results		Determination of net profit (loss) of the reporting period
2	Elements of operating expenses	Enterprises, organizations and other legal entities of all forms of ownership (except for banks and budgetary institutions)	Reflection of the operating expenses of the enterprise for the reporting period in the context of economic elements
3	Calculation of stock profitability indicators	Joint stock companies whose common shares or potential common shares are publicly traded and sold on stock exchanges, including companies that are in the process of issuing such shares	Information on profits and dividends per share

The criteria for recognizing income and expenses in the Statement of Financial Results are specified below.

Revenue is recognized when: the asset is received or;

repayment of obligations that lead to an increase in the enterprise’s equity capital (except for capital growth through contributions from participants).

Expenses are recognized when: the asset is disposed of or;

an increase in liabilities that lead to a decrease in the enterprise’s equity capital (except for a decrease in capital due to its withdrawal or distribution by owners)

on the basis of their systematic and rational distribution (for example, in the form of depreciation) during those periods when the corresponding economic benefits associated with the use of the asset are received immediately, if the economic benefits do not correspond or cease to correspond to the state in which they are recognized as assets of the enterprise.

Income and expenses are included in the income statement in accordance with the accrual and matching principles.

The accrual principle determines that income and expenses are recognized when they occur (not when cash is received or paid) and are reflected in the accounting and financial statements of the periods in which they relate.

Under the matching principle, expenses are recognized in the income statement based on a direct relationship between expenses and revenues generated.

1. A trading enterprise sold goods to the buyer at a selling price of UAH 50 thousand and recognized the amount as income. At the same time, it is necessary to recognize the costs associated with generating this income. Expenses are the cost of goods sold (43 thousand UAH).

2. The trading company received an advance payment in the amount of 20 thousand UAH. In the reporting period, goods worth 12 thousand UAH were shipped as subscriptions. According to the accrual principle, income in the amount of 12 thousand UAH is recognized at the time of shipment. The amount of UAH 8 thousand reflects an increase in liabilities, namely an increase in accounts payable. According to the principle of correspondence in accounting, the cost is reflected in expenses goods sold.

3. The goods, the ownership of which, according to the purchase and sale agreement, has passed to the buyer, are temporarily located in the warehouse of the seller - the enterprise. Despite the fact that there was no actual release (shipment) of goods, the trading enterprise recognizes income and reflects the cost of goods sold as expenses.

4. The trading enterprise - the principal, which transferred the goods for sale to the commission agent, recognizes income only after the sale of these goods by the commission agent.

In the first section of the report, financial results are determined separately from the usual and emergency activities, and as part of ordinary activities - from operating and other activities (financial and investment).

According to P (C) BU 3 “Report on financial results”, ordinary activity is any main activity of the enterprise, as well as operations that support it or arise as a result of its implementation.

Primary activity - operations related to the production and sale of products (goods, works, services), which is main goal creation of an enterprise and provide the bulk of its income.

In a trading enterprise, the main activity includes operations for the acquisition and sale of goods, and the operations that provide it and relate to ordinary activities are, for example, settlements with suppliers and customers, with the budget for taxes and duties, with employees, with bank institutions and etc..

Operating activities - the main activities of the enterprise, as well as other activities that are not investing or financing activities.

Financial activity is an activity that leads to a change in the size and composition of the enterprise's own and borrowed capital.

Investment activity is the acquisition and sale of non-current assets and financial investments that are not part of cash equivalents.

In the income statement, financial and investing activities are reflected in the following items:

Income from equity participation

Other financial income;

Other income;

Financial expenses;

Expenses from participation in capital

Other expenses.

The main purpose of the financial results statement is to determine the net profit (loss) of the reporting period.

The methodology for determining the profit of an enterprise is considered using the example of OJSC "TD Region" (Appendix 3).

The methodology for calculating profit (loss) for the reporting period includes the following stages.

1. Determination of net income (revenue) from sales of products (goods, works, services)

The initial reflection of income from the sale of goods (works, services) is carried out using the gross method, namely: income is reflected in the amount of proceeds from sales, which includes taxes and fees (value added tax, excise tax, Pension Fund for sale jewelry, a fee for the development of viticulture, gardening and hop growing), providing discounts to buyers after the sale of goods, the amount of goods sold, which are subsequently returned to the seller.

2. Calculation of gross profit (loss)

Gross profit is the difference between net income from sales of products (Goods, works, services) and cost products sold(goods, works, services).

The cost of goods sold is determined in accordance with P (C) BU 9 “Inventories”. The cost of finished products sold by restaurant enterprises consists of the production cost of products that were sold during the reporting period.

3. Determination of the financial result from operating activities

The financial result from operating activities is defined as the amount gross profit(loss), other operating income less administrative expenses, sales expenses and other operating expenses.

4. Calculation of the financial result from ordinary activities before taxation

5. Determination of financial result from ordinary activities

6. Determination of net profit (loss) of the reporting period

Net income (loss) is calculated as the sum of income (loss) from ordinary activities and extraordinary income, extraordinary expenses and taxes on extraordinary income.

To compile the first section of the Financial Results Report, accounting information accumulated during the reporting period in the accounting registers for accounts of the seventh, eighth, and ninth classes is used and summarized in the balance sheet.

The second section of the Financial Results Report reflects the operating expenses of the enterprise for the reporting period by economic elements:

Material costs (debit turnover of account 80 “Material costs”)

Labor costs (debit turnover of account 81 "Labor expenses");

Deductions for social activities(debit turnover of account 82 “Deductions for social events”)

Depreciation (debit turnover of account 83 “Depreciation”)

Other operating expenses (debit turnover of account 84 “Other operating expenses”).

The necessary analytical data on cost elements is accumulated in the appropriate accounting registers.

Trading enterprises consisting of material costs do not reflect cost of goods sold.

The third section of the Financial Results Report provides calculations of stock profitability indicators. This section is completed only by joint stock companies whose common shares or potential common shares are publicly traded and purchased on stock exchanges, including companies that are in the process of issuing such shares.

Table 7.6

Article	Content
Average annual number of common shares	The weighted average number of common shares outstanding during the reporting period is given.
adjusted average annual number of common shares	Displaying the average annual number of common shares in circulation, adjusted by the number of shares that can be issued in circulation according to concluded agreements
Net profit per share	An indicator is provided that is calculated by dividing the net profit or loss belonging to the owners of common shares by the average annual number of common shares
Adjusted net income per common share	Displays an indicator calculated by dividing the adjusted net income held by common shareholders by the adjusted average annual number of common shares.
Dividends per common share	Displays an indicator that is calculated by dividing the amount of declared dividends by the number of common shares on which dividends are paid

The following additional information is disclosed in the notes to the income statement:

accounting policy for income recognition, types of income and expenses for each group;

the amount of income from barter contracts;

share of income from barter contracts with related

parties;

composition and amount of expenses reflected in the items “Other operating

expenses "and" Other expenses "of the Income Statement;

composition and amount of income and losses for each emergency event;

composition and amount of expenses not included in the expense items of the Report on

financial results, but are reflected directly in the composition

own capital (except for withdrawal of capital and distribution between

owners)

net profit per common share determined as a result

recalculation;

adjusted net income per common share determined in

result of recalculation;

reconciliation of amounts used as numerators in calculations

net profit per common share and adjusted net

profit per common share, with net profit amounts

(Loss) for a certain period;

impact of dilutive potential common shares on the average annual

number of common shares outstanding;

transactions with common and potential common shares,

carried out after the reporting date.

The report on the financial results of OJSC "TD Region" is given in Appendix 3.

The cash flow statement is provided as part of the annual financial statements.

The report characterizes the impact of economic activities in general and its individual types on the cash flows of the enterprise.

The purpose of preparing a cash flow statement is to provide users with complete, truthful and unbiased information about changes in the enterprise's cash and cash equivalents for the reporting period.

The company's funds are reflected in the report in the context of operating, investing and financial activities. This allows

assess the ability of the enterprise to provide the funds necessary to continue and expand its core activities without attracting external sources financing, identify investments in assets that will provide profit and cash flows in the future, predict future cash flows associated with the claims of persons who have provided capital to the enterprise and provide users with information about the business activity of the enterprise and its impact on financial condition and the amount of funds. The cash flow diagram is presented in table. 7.7.

Table 7.7 Cash flow diagram of the enterprise

The cash flow statement of an enterprise details the amounts of receipts and expenses that arose during the reporting year as a result of operating, investing and financial activities. Not monetary transactions items that do not affect the flow of cash or cash equivalents are not included in the cash flow statement.

An example of such operations: barter operations;

receipt of fixed assets under financial leasing terms

acquisition of assets by issuing shares; converting liabilities into equity capital, purchasing assets directly through a bank loan (without the loan amount being credited to the company’s current account)

revaluation (depreciation) of fixed assets.

Internal changes in the composition of cash are not included in the cash flow statement (for example, receipts of funds from a bank to the cash desk of an enterprise, from a current bank account to a deposit or letter of credit account).

If a monetary transaction involves an amount that relates to various types activity, then it should be presented in detail for the relevant types of activity. For example, if a company's current account is credited with an amount that includes repayments of principal and interest, the repayment of principal should be reported as a financing activity and the interest as an operating activity.

To prepare a cash flow statement in accordance with international standards, they can be used following methods: direct method; indirect method.

When using direct method the receipts and expenditures of funds are disclosed according to their specific sources and areas of use.

Using the indirect method, net profit (loss) is adjusted to take into account the impact of: non-cash items;

changes in the composition of inventories, receivables and payables related to operating activities during the reporting period;

items related to cash flows from investing and financing activities.

The process of determining the net profit of an enterprise is reflected in the Statement of Financial Results. But this report is prepared on an accrual basis. This means that the income statement reflects income from operations for which cash has not yet been received, and expenses cash payments for which have not yet been implemented.

According to P (C) BU 4, the indirect method is used for operating activities, and the direct method is used for investment and financial activities.

Thus, in order to determine cash flows from operating activities, it is necessary to transform the data in the Income Statement prepared on an accrual basis into a cash basis system.

To compile the Cash Flow Statement, data from the Balance Sheet, the Income Statement, and Notes to financial reports, accounting registers and analytical data for individual accounting accounts.

The cash flow statement provides information for the reporting and previous periods.

The methodology for preparing a statement of cash flows for an enterprise is given based on materials from OJSC "TD Region" (appendix).

The report preparation process includes 4 main stages:

1) determination of cash flow based on the results of operating activities;

2) determination of cash flow based on the results of investment activities

3) determination of cash flow based on the results of financial activities;

4) determination of net cash flow for the reporting period and comparison of changes in their balances for the reporting period.

Compilation of the first section “Flow of funds as a result of operating activities” begins with the transfer of the indicator of financial result (profit or loss) from ordinary activities before taxation, reflected in the statement of financial results, the Statement of Cash Flows. At the enterprise OJSC "TD Region" this figure is 6369.8 thousand UAH.

1) non-monetary items that affect the formation of the financial result, but do not affect cash flows, namely:

Depreciation of non-current assets;

Security for obligations;

Interest expenses;

Losses (income) from unrealized exchange rate differences;

2) the financial result of business transactions not related to operating activities.

Accrued depreciation of non-current assets is the cost of the enterprise, which reduced profits, but did not lead to the expenditure of its funds, therefore the amount of accrued depreciation should be added to the amount of profit.

At the enterprise, the amount of accrued depreciation is UAH 2026.9 thousand.

For the amount of transactions for accrual of collateral not related to cash flow, profit (loss) should be adjusted to determine the net cash flow (with a plus sign), for the amount of operation for reducing collateral - with a minus sign.

Change exchange rate, which leads to exchange rate differences, is also not related to cash flow. Therefore, the amount of recalculation of the balance sheet item “Cash and its equivalent in foreign currency” leads to a positive difference in the event of an increase in the exchange rate or a negative exchange rate difference in the case of a decrease in the exchange rate.

Income from exchange rate differences increases profit when forming a financial result, therefore, profit should be reduced by the amount of positive exchange rate differences. Positive exchange rate differences at the enterprise amount to 1.4 thousand UAH.

Negative exchange rate differences reduce profits when generating a financial result, so profits should be increased by the amount of negative exchange rate differences.

The first section of the report reflects cash flows only for operating activities. Therefore, the profit (loss) from ordinary activities should be adjusted by the amount of profit (loss) from investing and financing activities.

Financial results from investment and financing activities are presented in the Financial Results Report. These are financial results from the ownership and sale of financial investments, the sale of fixed assets, intangible assets, other long-term assets, from the exchange of current assets for non-current assets and financial investments,

from non-operating exchange rate differences, as well as other income and losses from investing and financing activities.

From total income Gains from investing and financing activities should be excluded and losses added. Profit from non-operating activities at the enterprise is UAH 134.7 thousand.

The amount of profit from ordinary activities increases by the amount of interest on loans and borrowings accrued during the reporting period. At the enterprise, the amount of interest for using loans is 70 thousand UAH.

On next stage the amount of cash from operating activities is determined by adjusting for the amount of changes: in the balances of current assets in the expenses of future periods of current liabilities; future income.

Changes in current assets are determined according to the data in the second asset section of the balance sheet, with the exception of the articles: “Cash and cash equivalents”, “Current financial investments”. In addition, changes in current assets are not taken into account when calculating

Changes in items of current assets, which is the result of non-cash transactions of investment activities (exchange of current assets for non-current assets, financial investments, reduction of inventories due to their use to improve fixed assets);

Changes in current asset items that result from non-cash transactions in financing activities (payment of dividends or repayment of finance lease obligations industrial reserves, products, goods, etc., non-monetary contributions to the authorized capital);

Change in accounts receivable for current income tax and decrease in accounts receivable to the budget due to the inclusion of accounts payable for current income tax;

Changes in the composition of receivables for value added tax calculations that are a consequence of investment activities.

Such operations trading enterprise, as markdowns, shortages, and excess inventories lead to changes in fixed assets. They are not related to monetary transactions, but influence the formation of the financial result and are therefore included in profit (loss) from operating activities.

The decrease in current assets of OJSC "TD Region" for the year amounted to UAH 646.4 thousand. The enterprise's profit from operating activities is adjusted by this amount to the change in net current assets(with a plus sign).

Changes in deferred expenses are determined according to the third asset section of the balance sheet. The reduction in deferred expenses of OJSC "TD Region" for the year amounted to UAH 59.9 thousand. The enterprise's profit from operating activities is adjusted by this amount to the change in net current assets (with a plus sign).

Changes in current liabilities are determined according to the fourth section of the liabilities side of the balance sheet, with the exception of the articles: “Short-term bank loans”, “Current debt on long-term liabilities”, “Current obligations for settlements with participants” and others not related to operating activities. In addition, when calculating changes in current liabilities are not taken into account

Changes in items of current liabilities that are the result of non-cash transactions of investment and financing activities (repayment of current liabilities by transfer of non-current assets and financial investments; crediting contributions to capital)

Correcting mistakes from previous years;

Reducing the amount of debt current tax on profit due to its payment;

For value added tax arising as a result of investment activities

Changes in items of current liabilities, which are the result of investment and financial activities (changes in the amount of advances received that are not related to operating activities, changes in debt to pay for acquired non-current assets, financial investments, property complexes);

Changes in debt associated with improvement (reconstruction, modernization of fixed assets).

When calculating changes in current liabilities, the decrease in the amount of debt for current income tax due to its write-off and recognition of income is taken into account.

The decrease in current liabilities of OJSC "TD Region" for the year amounted to UAH 2223.9 thousand. The enterprise's profit from operating activities is adjusted by this amount before the change in net current assets (with a minus sign).

Changes in future income are determined according to the data in the fifth section of the liabilities side of the balance sheet. This does not take into account the amount of changes in future income due to their formation from operations with funds of targeted financing, next recognition income next periods income of the reporting period, as well as in connection with the return of targeted financing.

The amount of funds of JSC "TD Region" from operating activities amounted to 6813.0 thousand UAH (8330.6 + 646.4 + 59.9 - 2223.9).

In the future, cash from operating activities is adjusted to the amount of money used to pay interest on loans, borrowings - UAH 70.0 thousand, as well as to pay income tax (if income tax is not identified with financial or investment activities) - 1278.7 thousand UAH.

Net cash flows from operating activities are determined taking into account cash flows from extraordinary events.

The net movement of OJSC "TD Region" from operating activities amounted to 5464.3 thousand UAH (6813.0 - 70.0 - 1278.7).

At the second stage (second section of the report), the cash flow as a result of investment activities is determined.

Investment activity - the acquisition and sale of non-current assets, as well as those financial investments that are not integral part cash equivalents.

Investment activity is associated with the investment of funds in the development of production, the acquisition of new equipment, and securities of other enterprises in order to obtain additional income.

Cash flow as a result of investing activities is determined based on the analysis of:

changes in the items in the balance sheet section “Non-current assets”, changes in the balance sheet item “Current financial investments”; articles of the Statement of Financial Results “Income from participation in capital”, “Other financial income”, “Other income”, “Losses from participation in capital”, “Other expenses”.

When compiling the second section of the cash flow statement, the direct method is used, so it reflects only those transactions that are settled in cash.

Cash flows as a result of investment activities are shown in table. 7.8.

Table 7.8 Cash flows from investing activities

Report article	Content
Implementation of financial investments	Proceeds from the sale of shares or debt obligations of other enterprises, as well as interests in the capital of other enterprises (other than proceeds from instruments are recognized as cash equivalents or as held for dealing or trading purposes)
Sale of non-current assets	Receipt of cash from the sale of fixed assets, intangible assets, other long-term non-current assets (except financial investments)
Sales of property complexes	Receipt of cash from the sale of subsidiaries and other business units (less cash that was sold as part of property complex)
Interest received	Receipt of funds in the form of interest on cash advances and loans provided to other parties (other than advances and loans made by a financial institution) on financial investments in debt securities, for the use of non-current assets transferred under financial lease, etc.
Dividends received	Amounts of dividend receipts resulting from the acquisition of shares or equity interests in other entities (other than payments on instruments that are recognized as cash equivalents or those held for dealing or trading purposes)
Other receipts	Receipt of cash from the return of advances (Except for advances related to operating activities) and loans provided to other parties (other receipts than advances and loans from a financial institution), receipt of cash from futures contracts, forward contracts, options, etc. (except for contracts entered into for the main activities of the enterprise, or when receipts are classified as financing activities) and other receipts
Acquisition of financial investments	Payments of cash to acquire shares or debt of other entities or interests in joint ventures (other than payments on instruments are recognized as cash equivalents or as held for dealing or trading purposes)
Acquisition of non-current assets	Payments of funds for the acquisition of fixed assets, intangible assets, other long-term non-current assets (except financial investments)
Acquisition of property complexes	Cash paid for acquired subsidiaries and others business units(minus funds acquired as part of the property complex)
Other payments	Advances (other than those related to operating activities) and cash loans provided to other parties (other than advances and loans financial institutions), payments of funds under futures contracts, forward contracts, options, etc. (except for contracts that are entered into for the main activities of the enterprise, or when receipts are classified as financing activities) and other payments
	The difference between the amounts of cash receipts and expenses as a result of investing activities.
	Receipt or expenditure of funds associated with extraordinary events in the process of investment activities
Net cash flow from investing activities	The result of cash flow from investment activities, taking into account the movement of funds from extraordinary events

At the enterprise CJSC "TD Region" during the reporting year, as a result of investment activities, 988.4 thousand games were spent on the acquisition of non-current assets, therefore the indicator of net flow of funds from investment activities should have a negative value.

At the third stage (third section of the report), cash flows as a result of financial activities are determined.

Financial activities are associated with raising funds to carry out own needs. This activity leads to changes in the size and composition of equity and debt capital.

The movement of funds as a result of financial activities is determined based on an analysis of changes in the items of the liability sections of the Balance Sheet:

- "Equity";

- "Providing for future expenses and payments";

- "Long term duties";

- “Current liabilities”, namely:

“Short-term bank loans”, “Current” debt for settlements of long-term obligations”, “Current obligations for settlements with participants” and others.

In preparing this section of the cash flow statement, the direct method is used to determine net cash flow.

Cash flows as a result of financial activities are presented in table. 7.9.

Table 7.9 Cash flows from financing activities

Report article	Content
Receipt of equity capital	Receipt of cash from the placement of shares and other transactions that lead to an increase in equity capital
Loans received	Receipt of funds as a result of the formation of debt obligations (loans, bills, bonds, as well as other types of short-term and long-term obligations not related to operating activities)
Other receipts	Other cash inflows related to financing activities
Loan repayment	Payments of funds to repay received loans
Dividends paid	Amounts of dividends paid in cash
Other payments	Use of funds to repurchase shares of the enterprise, pay cash to the lessor to repay debt on finance leases and other payments related to financial activities
Net fund flows before extraordinary events	The difference between the amounts of cash receipts and expenses from financing activities
Movement of funds from emergency events	Receipt or expenditure of funds associated with extraordinary events in the process of financial activity.
Net cash flow from financing activities	The result of cash flows from financial activities, taking into account the flow of funds from extraordinary events

At the enterprise OJSC "TD Region" during the reporting year, the net movement from financial activities amounted to 3443.8 thousand UAH, including: cash received from loans received 1500 thousand UAH; UAH 1,500.0 thousand was spent on repaying loans, UAH 2,637.3 thousand was spent on dividend payments, and UAH 806.5 thousand was spent on other payments.

At the fourth stage, the net cash flow for the reporting period is determined as the difference between the amount of cash receipts and expenses reflected in the report items: “Net cash flow from operating activities”, “Net cash flow from investing activities”, “Net cash flow from financing activities” "and the result of a change in means.

The net movement of funds of the enterprise for the reporting year is 1032.1 thousand UAH (5464.3 - 988.4 - 3443.8).

The impact of changes in exchange rates on the balance of funds reflects an increase ("Receipts") or a decrease ("expenses") of the balance of funds in foreign currency as a result of exchange rate fluctuations during the reporting period (UAH 1.4 thousand).

The indicator “Cash balance at the end of the year” calculated in the Cash Flow Statement should be equal to the cash balance and cash equivalents at the end of the reporting period shown in the Balance Sheet.

The notes to the cash flow statement provide (disclose) A:

Composition of funds;

The composition of the articles “Other receipts”, “Other payments” and other articles combines several types of cash flows;

Non-cash transactions of investing and financing activities;

The presence of a significant balance of cash flows that the enterprise has and which are not available for use by the group to which the enterprise belongs.

In case of acquisition or sale of property complexes during the reporting period, information about total cost acquisition or sale of a property complex, part of the total cost that was paid or received in the form of cash, the amount of money as part of assets (except cash) and liabilities of the acquired or sold property complex in the context of individual items.

Equity is the portion of a business's assets that remains after deducting its liabilities.

The equity capital of an enterprise is divided into invested (invested or paid-up capital) and retained earnings.

Invested capital is the sum of common and preferred shares at par value that make up the authorized capital, as well as additional invested capital. The authorized capital is subject to registration; it ensures the regulation of relations of ownership and management of the enterprise. The amount of the authorized capital cannot be less established by law amount. Additional capital is not subject to registration. Retained earnings are the part of net profit that has not been distributed among the owners.

P (C) BU 1 "General requirements for financial reporting";

P (S) BU 2 “Balance”;

P (C) BU 6 "Correction of errors and changes in financial statements."

The purpose of preparing a statement of equity is to disclose information about changes in the composition of the enterprise's equity during the reporting period.

In the report, the equity capital includes: the following types capital:

Authorized capital (account 40);

Share capital (account 41);

Additional invested capital (subaccounts 421, 422);

Other additional capital (subaccounts 423, 424, 425);

Reserve capital (account 43);

Retained earnings (account 44);

Unpaid capital (account 46);

Withdrawn capital (account 45).

The statement of equity is presented as part of the annual financial statements and is compiled on the basis of accounting data.

To provide comparative analysis enterprises must attach information to annual report Statement of net worth for the previous year.

The report form provides for the reflection not only of the structure of equity capital, but also item-by-item detailing of the factors that influenced the value of the reporting period.

Table 7.10 Contents of items in the statement of equity

Article	Content
Balance at the beginning of the year. Balance at the end of the year	Amounts of equity capital shown in the balance sheet of the enterprise
Change in accounting policy. Correction of significant errors. Other changes	Amounts of adjustments provided for by Accounting Regulation (Standard) 6 “Correction of errors and changes in financial statements.” As a rule, the amount of profit for the reporting period is shown in the reporting and the amount of retained earnings does not change, with the exception of some situations when, for example: 1) identified significant errors, which led to the need to change the indicators previous years, due to the fact that the above data cannot be considered reliable; 2) there has been a change in accounting policy. The amount of adjustment for a material error relating to prior periods, or those resulting from a change in accounting policy, should be reported in the report under the heading "Retained earnings".
Adjusted balance	Balance of equity at the beginning of the reporting period after making appropriate adjustments
Revaluation of assets Net profit (loss) for the reporting period	Data is provided reflecting the increase or decrease in equity capital as a result of the revaluation of fixed assets and other assets in the manner prescribed by the relevant Regulations (Standards) The amount of net profit (loss) according to the statement of financial results
Profit distribution	Reflect the amount of accrued dividends, data on other distribution of profits between the participants (owners) of the enterprise or the direction of profits into the authorized capital, reserve capital, etc.
Participants' contributions	Provides data on the increase in the authorized capital of the enterprise and changes in unpaid capital as a result of an increase or decrease in the receivables of participants for contributions to the authorized capital of the enterprise
Withdrawal of capital	Data is provided on the decrease in the enterprise's equity capital due to the withdrawal of a participant, the repurchase or cancellation of repurchased shares by the joint-stock company, a decrease in the par value of shares or for other reasons
Other changes in capital	Data on all other changes in the equity of the enterprise that were not included in the above-mentioned items, in particular, write-off of unreimbursed losses, free assets received and other changes
Together with changes in capital	The result of changes in equity for the reporting period is determined as the sum of the adjusted equity balance at the beginning of the year and all changes during the reporting year as a result of revaluation of assets, use of net profit, withdrawal of capital and changes

The statement of equity "is drawn up in the form given in Appendix 4.

The statement of equity has a relationship with data from other forms of financial statements.

Thus, the balances of equity capital at the beginning of the year correspond to the data in the first section of the liabilities side of the balance sheet for the previous reporting period.

According to P (C) BU 6 “Correcting errors and changes in financial statements”, corrections of errors made during the preparation financial reports in previous periods, and reflecting the impact of changes in accounting policies on events and transactions of previous periods is carried out by adjusting the balance of retained earnings at the beginning of the reporting year. Correction of errors from previous periods is carried out in the period when such an error was discovered. As a rule, the amount of retained earnings shown in the statements does not change, with the exception of some situations if, for example, significant errors are identified that led to the need to recalculate the figures of previous years.

According to P (C) BU 5 “Report on Own Capital”, all enterprises disclose in the notes to the financial statements the purpose and conditions of use of each element of equity capital (except for the authorized capital).

Joint stock companies provide the following information regarding equity in the notes to the financial statements.

1. Total and the par value of the shares to be subscribed for.

2. The total number and par value of shares subscribed for in comparison with the stipulated amounts.

3. Total amount funds received during the subscription to shares, in the following context:

All monies paid as payment for shares, indicating the number of shares;

Valuation of property contributed as payment for shares, indicating the number of shares;

The total amount of foreign currency paid as consideration for shares, indicating the number of shares and the rate at which the currency is recorded.

4. Shares in the authorized capital according to certain types And

The number of issued shares indicating the unpaid part of the authorized capital;

Par value of the share;

Changes during the reporting period in the number of shares outstanding;

Rights, privileges and restrictions associated with shares, including restrictions on the distribution of dividends and return of capital;

Shares owned by the company itself, its subsidiaries and associated enterprises;

List of founders and the number of shares they own;

Number of shares owned by members executive body and a list of persons whose shares in authorized capital exceed 5%;

Shares reserved for issue under options and other contracts, indicating their terms and amounts.

5. The accumulated amount of dividends not paid on preferred shares.

6. The amount included (or not included) in liabilities when dividends were provided for but not formally approved.

All other entities are disclosed in the notes to the financial statements. the following information regarding equity:

Distribution of shares of the authorized capital between owners;

The rights, privileges or restrictions of these particles;

Changes in the composition of owners' shares in the authorized capital.

7.2.5. Notes to the annual financial statements

According to the Law "On Accounting and Financial Reporting" Notes are integral part financial statements.

Notes to the financial statements are a set of indicators and explanations that provide detail and validity of the items in the financial statements, as well as other information, the disclosure of which is required by the relevant provisions (standards).

The Note form (Form No. 5) is approved by the Ministry of Finance of Ukraine.

The purpose of compiling notes in accordance with the principle of full disclosure is to provide information about the factual and potential consequences business transactions and events affecting decisions made on their basis.

Form No. 5 "Notes to the annual financial statements" includes 13 sections.

1. Intangible assets.

2. Fixed assets.

3. Capital investments.

4. Financial investments.

5. Income and expenses.

6. Cash.

7. Collateral and reserves.

8. Inventories.

9. Accounts receivable.

10. Shortages and losses from damage to valuables.

11. Construction contracts.

12. Income tax.

13. Use of depreciation charges.

Form No. 5 “Notes to the annual financial statements” is drawn up on the basis of analytical and synthetic accounting data in the relevant accounts.

Notes to the annual financial statements of the trading enterprise OJSC TD "Region" are given in Appendix 5.

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